Renaissance Technologies LLC Grows Stock Holdings in Largo Inc. $LGO

Renaissance Technologies LLC grew its stake in shares of Largo Inc. (NYSE:LGO) by 631.6% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,293,300 shares of the company’s stock after acquiring an additional 1,116,534 shares during the period. Renaissance Technologies LLC’s holdings in Largo were worth $1,448,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Brooklands Fund Management Ltd grew 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 valued at $851,000 after buying an additional 655,119 shares in the last quarter. Baader Bank Aktiengesellschaft acquired a new position in Largo during the 1st quarter worth approximately $28,000. Quadrature Capital Ltd purchased a new position in Largo in the 4th quarter worth approximately $62,000. Marshall Wace LLP boosted 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 acquiring an additional 830,824 shares during the period. Finally, Citadel Advisors LLC grew its position in Largo by 84.2% in the third quarter. Citadel Advisors LLC now owns 231,860 shares of the company’s stock valued at $348,000 after acquiring an additional 105,974 shares in the last quarter. 64.08% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on LGO. National Bank Financial set a $2.40 price objective on shares of Largo in a research note on Tuesday, July 7th. HC Wainwright decreased their target price on shares of Largo from $2.80 to $2.40 and set a “buy” rating for the company in a research note on Tuesday, July 7th. Finally, Maxim Group began coverage on shares of Largo in a report on Friday, July 24th. They set a “buy” rating and a $1.50 price target for the company. Two investment analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $2.10.

Largo Trading Down 4.0%

Shares of LGO opened at $0.74 on Thursday. Largo Inc. has a one year low of $0.55 and a one year high of $2.70. The stock has a 50-day moving average price of $0.70 and a 200 day moving average price of $1.07. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.81 and a current ratio of 1.67. The company has a market capitalization of $76.40 million, a P/E ratio of -0.93 and a beta of 1.46.

Largo 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.