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Largo Resources ( (TSE:LGO) ) has shared an update.
Largo Inc. has secured a binding term sheet through its Brazilian subsidiary for the potential sale of 4.5 million tons of iron ore calcine, a byproduct accumulated over 11 years at its Maracás Menchen vanadium mine in Bahia, Brazil, in a multi-year EXW contract that could generate more than US$56 million, subject to final agreements and conditions. Management positions the prospective deal as a way to unlock value from long-standing byproduct stockpiles, cut future infrastructure and disposal requirements, and further improve the cost-competitiveness of its core vanadium operations, underscoring growing external demand for Largo’s diversified byproduct portfolio and offering a potential boost to liquidity and financial flexibility if completed.
The most recent analyst rating on (TSE:LGO) stock is a Hold with a C$1.50 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 and operational challenges, reflected in its low financial performance and valuation scores. Technical analysis indicates bearish momentum, while recent corporate events provide temporary financial relief but underscore liquidity issues. Strategic improvements are necessary to enhance the company’s financial health and stock performance.
To see Spark’s full report on TSE:LGO stock, click here.
More about Largo Resources
Largo Inc. is a globally recognized supplier of high-quality vanadium and ilmenite products sourced from its Maracás Menchen mine in Brazil, ranking among the world’s largest primary vanadium producers. Its materials serve steel, aerospace, defense, chemical and energy storage industries, and the company also has a strategic foothold in long-duration energy storage via a 50% stake in Storion Energy, as well as tungsten and molybdenum assets in Canada and Brazil.
YTD Price Performance: 9.92%
Average Trading Volume: 120,236
Technical Sentiment Signal: Sell
Current Market Cap: C$120M
See more data about LGO stock on TipRanks’ Stock Analysis page.