Equities research analysts at Maxim Group started coverage on shares of Largo (NYSE:LGO – Get Free Report) in a note issued to investors on Friday. The brokerage set a “buy” rating and a $1.50 price target on the stock. Maxim Group’s target price indicates a potential upside of 136.89% from the company’s previous close.
A number of other brokerages have also recently commented on LGO. National Bank Financial set a $2.40 target price on shares of Largo in a report on Tuesday, July 7th. HC Wainwright lowered their price target on shares of Largo from $2.80 to $2.40 and set a “buy” rating for the company in a research report on Tuesday, July 7th. Two analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the company has a consensus rating of “Buy” and an average price target of $2.10.
View Our Latest Stock Analysis on Largo
Largo Price Performance
Hedge Funds Weigh In On Largo
Several large investors have recently modified their holdings of the stock. Bank of America Corp DE grew its position in Largo by 19.6% during the 1st quarter. Bank of America Corp DE now owns 497,135 shares of the company’s stock valued at $557,000 after purchasing an additional 81,550 shares during the last quarter. Royal Bank of Canada raised its holdings in Largo by 3,192.4% in the first quarter. Royal Bank of Canada now owns 60,614 shares of the company’s stock worth $68,000 after buying an additional 58,773 shares during the last quarter. Renaissance Technologies LLC raised its holdings in Largo by 631.6% in the first quarter. Renaissance Technologies LLC now owns 1,293,300 shares of the company’s stock worth $1,448,000 after buying an additional 1,116,534 shares during the last quarter. Brooklands Fund Management Ltd lifted its stake in shares of Largo by 623.9% in the first quarter. Brooklands Fund Management Ltd now owns 760,119 shares of the company’s stock worth $851,000 after buying an additional 655,119 shares in the last quarter. Finally, Baader Bank Aktiengesellschaft bought a new position in shares of Largo in the first quarter worth approximately $28,000. Hedge funds and other institutional investors own 64.08% of the company’s stock.
Largo Company Profile
Largo Inc (NYSE:LGO) is a diversified resources and digital asset company that provides investors with exposure to both critical battery metals and bitcoin through publicly traded vehicles. The combined platform integrates specialty metals operations with a physical bitcoin trust, reflecting the company’s strategy to offer participation in traditional commodities and emerging digital assets.
The metals division focuses on the production and sale of high-purity nickel and cobalt sulfate used in electric vehicle batteries and energy storage systems.
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