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Largo Resources ( (TSE:LGO) ) has shared an announcement.
Largo Inc. has announced a US$23.4 million offering consisting of a registered direct offering and a private placement to address liquidity constraints and meet equity contribution requirements for a debt rollover agreement. The proceeds will be used to pay Brazilian lenders and suppliers, impacting the company’s production rates due to current financial challenges.
The most recent analyst rating on (TSE:LGO) stock is a Hold with a C$2.50 price target. To see the full list of analyst forecasts on Largo Resources stock, see the TSE:LGO Stock Forecast page.
Spark’s Take on TSE:LGO Stock
According to Spark, TipRanks’ AI Analyst, TSE:LGO is a Neutral.
Largo Resources faces significant financial challenges, impacting its overall score negatively. However, positive technical indicators provide some optimism, suggesting potential short-term gains. The valuation remains unattractive due to negative earnings and no dividend yield.
To see Spark’s full report on TSE:LGO stock, click here.
More about Largo Resources
Largo Inc. operates in the mining industry, primarily focusing on the production of vanadium through its subsidiary, Largo Vanádio de Maracás S.A. The company is listed on the Toronto Stock Exchange and NASDAQ, and it is engaged in activities related to the Maracás Menchen Mine in Brazil.
Average Trading Volume: 53,002
Technical Sentiment Signal: Hold
Current Market Cap: C$180.2M
For detailed information about LGO stock, go to TipRanks’ Stock Analysis page.