H.C. Wainwright Thinks Largo Resources’ Stock is Going to Recover

By Ryan Adsit

In a latest note to investors, a research analyst has provided a rating update for the Materials sector company, Largo Resources (LGOResearch Report). Today, analyst Heiko Ihle gave a Buy rating to LGO and set a C$3.30 price target.

Ihle wrote:

“We maintain our Buy rating but lower our PT to C$3.30 per share from C$3.40 per share. Our lower PT was solely the result a less advantageous CAD/USD exchange rate utilized in our model and has nothing to do with recent results or our outlook for Largo.”

According to TipRanks.com, Ihle is a 3-star analyst with an average return of 1.7% and a 52.3% success rate. Ihle covers the Basic Materials sector, focusing on stocks such as Solitario Exploration & Royalty, Americas Silver Corporation, and Golden Star Resources Ltd.

Currently, the analyst consensus on Largo Resources is a Hold with an average price target of C$3.30.

The company has a one-year high of C$4.65 and a one-year low of C$1.44. Currently, Largo Resources has an average volume of 1.07M.

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 company’s shares closed on Wednesday at C$1.88, close to its 52-week low of C$1.44.