My take The markets already know that 2023 was another challenging year for Largo. Therefore I believe that the “challenging aspect” has already been built in the sp. If the numbers turned out to be even worse than expected then the sp would likely fall further. On the other hand a better-than-expected result would surely give a boost to the sp.
Having said the above, I must add that I strongly believe that the markets are forward looking. Smart money investors look ahead instead of in the rearview mirror. Future / potential earnings are way more important than past performance. As painful as the fact that Largo is currently valued at below its book value, it has created a cheap entry point to a potential muti-bagger stock considering the worth of what is in the ground of Maracas, the potential multi-stream revenues and the expected V deficit due to the growth of the VFB industry. I believe that there is a very good chance for us to see LGO back in the C$20 range in 2025/2026.
My 2-ct worth.
DYODD