West Family Investments Inc. Invests $466,000 in Largo Inc. $LGO

Key Points

• West Family Investments acquired 2.2 million Largo shares worth approximately $466,000, giving it a 2.13% stake. Institutional investors and hedge funds collectively own 64.08% of the company.
• Largo shares opened at $0.64, near the company’s 52-week low of $0.55 and well below its 52-week high of $2.70. The stock has a market capitalization of approximately $66.2 million.
• Analysts maintain a consensus “Buy” rating with an average price target of $2.10, substantially above the current share price; individual targets range from $1.50 to $2.40.

West Family Investments Inc. acquired a new stake in Largo Inc. (NYSE:LGO - Free Report) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 2,200,845 shares of the company's stock, valued at approximately $466,000. West Family Investments Inc. owned approximately 2.13% of Largo at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Renaissance Technologies LLC lifted its stake in Largo by 631.6% during the 1st quarter. Renaissance Technologies LLC now owns 1,293,300 shares of the company's stock worth $1,448,000 after acquiring an additional 1,116,534 shares in the last quarter. Brooklands Fund Management Ltd boosted its holdings in Largo by 623.9% during the 1st quarter. Brooklands Fund Management Ltd now owns 760,119 shares of the company's stock valued at $851,000 after acquiring an additional 655,119 shares during the period. Baader Bank Aktiengesellschaft acquired a new position in Largo in the 1st quarter valued at about $28,000. Marshall Wace LLP grew its position in Largo by 952.2% in the 4th quarter. Marshall Wace LLP now owns 918,075 shares of the company's stock valued at $863,000 after acquiring an additional 830,824 shares in the last quarter. Finally, Russell Investments Group Ltd. increased its stake in Largo by 65.0% during the third quarter. Russell Investments Group Ltd. now owns 207,974 shares of the company's stock worth $311,000 after purchasing an additional 81,967 shares during the period. 64.08% of the stock is owned by institutional investors and hedge funds.

Largo Price Performance

LGO stock opened at $0.64 on Friday. The business's 50-day moving average is $0.69 and its two-hundred day moving average is $1.05. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.67 and a quick ratio of 0.81. The firm has a market capitalization of $66.19 million, a P/E ratio of -0.80 and a beta of 1.46. Largo Inc. has a 1 year low of $0.55 and a 1 year high of $2.70.

Analysts Set New Price Targets

Several brokerages have recently issued reports on LGO. Maxim Group started coverage on shares of Largo in a research report on Friday, July 24th. They set a "buy" rating and a $1.50 price target on the stock. National Bank Financial set a $2.40 price objective on shares of Largo in a report on Tuesday, July 7th. Finally, HC Wainwright cut their target price on shares of Largo from $2.80 to $2.40 and set a "buy" rating on the stock in a research note on Tuesday, July 7th. Two research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus target price of $2.10.

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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