Russell Investments Group Ltd. significantly increased its stake in Largo Inc. by 32.8% in the fourth quarter, according to the company’s recent 13F filing with the SEC. The institutional investor now owns 90,890 shares of Largo, representing approximately 0.14% of the company’s stock, after acquiring an additional 22,437 shares during the period. The total value of the stake was reported to be $210,000 at the end of the reporting period.
In a separate development, Toronto Dominion Bank entered a new position in Largo during the third quarter, purchasing shares worth $36,000. Institutional investors now hold 64.08% of Largo’s stock.
Analysts at HC Wainwright recently raised their price target on Largo from $4.70 to $4.80 and maintained a “buy” rating for the stock in a research note on May 17th.
Largo’s stock opened at $1.85 on Thursday, with a market capitalization of $118.53 million. The company reported a loss of ($0.21) earnings per share in its last quarterly report on March 21st. Analysts predict that Largo will post an EPS of -0.22 for the current fiscal year.
Largo Inc. is known for its development and sale of vanadium-based energy storage systems in Canada. The company operates through various segments and offers a range of vanadium-based products for different industries.
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