Largo (NYSE:LGO) Now Covered by Analysts at Maxim Group

Key Points

• Maxim Group initiated coverage on Largo with a Buy rating and a $1.50 price target, implying about 136.9% upside from the stock’s current price.
• Largo’s shares were down 2.9% to $0.63 on Friday, leaving the company with a $65.3 million market cap and a 1-year trading range of $0.59 to $2.70.
• Several firms remain constructive on the stock, with the consensus rating still Buy and an average price target of $2.10; hedge funds also hold a large stake, owning 64.08% of shares outstanding.

Research analysts at Maxim Group initiated coverage on shares of Largo (NYSE:LGO - Get Free Report) in a research 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 stock's current price.

Several other research analysts have also recently issued reports on the stock. 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 report on Tuesday, July 7th. Two investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, Largo has a consensus rating of "Buy" and an average price target of $2.10.

Largo Trading Down 2.9%

Shares of LGO stock opened at $0.63 on Friday. The stock has a market capitalization of $65.30 million, a PE ratio of -0.79 and a beta of 1.47. Largo has a 1-year low of $0.59 and a 1-year high of $2.70. The business has a 50-day moving average of $0.79 and a 200 day moving average of $1.13. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.67 and a quick ratio of 0.81.

Hedge Funds Weigh In On Largo

Several hedge funds have recently made changes to their positions in the business. Renaissance Technologies LLC boosted 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 valued at $1,448,000 after acquiring an additional 1,116,534 shares in the last quarter. Marshall Wace LLP raised its holdings in Largo by 952.2% in the 4th quarter. Marshall Wace LLP now owns 918,075 shares of the company's stock worth $863,000 after purchasing an additional 830,824 shares in the last quarter. Brooklands Fund Management Ltd lifted its position in shares of Largo by 623.9% in the 1st quarter. Brooklands Fund Management Ltd now owns 760,119 shares of the company's stock worth $851,000 after purchasing an additional 655,119 shares during the period. Bank of America Corp DE lifted its position in shares of Largo by 19.6% in the 1st quarter. Bank of America Corp DE now owns 497,135 shares of the company's stock worth $557,000 after purchasing an additional 81,550 shares during the period. Finally, Citadel Advisors LLC boosted its stake in shares of Largo by 84.2% during the 3rd quarter. Citadel Advisors LLC now owns 231,860 shares of the company's stock valued at $348,000 after purchasing an additional 105,974 shares in the last quarter. 64.08% of the stock is owned by hedge funds and other institutional investors.

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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