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Largo Resources (LGO) Receives a Buy from H.C. Wainwright

H.C. Wainwright analyst Heiko Ihle reiterated a Buy rating on Largo Resources (LGOResearch Report) today and set a price target of $20.00. The company’s shares closed last Thursday at $8.03, close to its 52-week low of $7.39.

According to TipRanks.com, Ihle is a 3-star analyst with an average return of 4.5% and a 34.3% success rate. Ihle covers the Basic Materials sector, focusing on stocks such as Solitario Exploration & Royalty, Northern Dynasty Minerals, and Americas Gold and Silver.

Currently, the analyst consensus on Largo Resources is a Strong Buy with an average price target of $15.33.

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Based on Largo Resources’ latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $53.86 million and net profit of $9.19 million. In comparison, last year the company earned revenue of $27.47 million and had a net profit of $2.55 million.

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Largo Resources Ltd. engages in the exploration and development of vanadium and tungsten projects in Brazil and Canada. It focuses in the production of vanadium flake, purity vanadium flake and purity vanadium powder. The firm also holds interest in the maracás vanadium, currais novos tungsten tailings and campo alegre de lourdes iron-vanadium projects; and in northern dancer tungsten-molybdenum property located in the Yukon Territory. The company was founded on April 18, 1988 and is headquartered in Toronto, Canada.

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