Largo (TSE:LGO) Stock Price Up 31.8% – Here’s What Happened

Shares of Largo Inc. (TSE:LGO) rose 31.8% during mid-day trading on Thursday . The stock traded as high as C$1.20 and last traded at C$1.16. Approximately 519,631 shares traded hands during mid-day trading, an increase of 164% from the average session volume of 196,744 shares. The stock had previously closed at C$0.88.

Largo Price Performance

The stock has a 50-day moving average of C$1.28 and a 200-day moving average of C$1.60. The company has a debt-to-equity ratio of 73.31, a current ratio of 0.55 and a quick ratio of 1.52. The firm has a market cap of C$113.50 million, a price-to-earnings ratio of -1.19, a P/E/G ratio of -0.76 and a beta of 2.12.

Largo (TSE:LGO) last announced its quarterly earnings data on Wednesday, May 13th. The company reported C($0.10) earnings per share for the quarter. The company had revenue of C$38.27 million during the quarter. Largo had a negative net margin of 60.42% and a negative return on equity of 45.97%. Sell-side analysts predict that Largo Inc. will post 0.1349206 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, insider Diogo De Araujo Silva sold 78,574 shares of the company’s stock in a transaction dated Monday, May 25th. The shares were sold at an average price of C$1.39, for a total transaction of C$109,217.86. Also, insider Luander Rodrigues Peixoto sold 74,331 shares of the stock in a transaction dated Monday, May 25th. The stock was sold at an average price of C$1.35, for a total transaction of C$100,346.85. 0.19% of the stock is currently owned by company insiders.

About Largo

Largo Inc is committed to the production and supply of high-quality vanadium products. The Company is also focused on the advancement of renewable energy storage solutions through Largo Clean Energy and its vanadium redox flow battery technology. The Company is engaged in the mining, exploration, and development of mineral properties, primarily in Brazil, through which it produces and supplies vanadium products VPURE Flake, VPURE+ Flake, and VPURE+ Powder.