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Largo Resources ( (TSE:LGO) ) has shared an announcement.
For the three months ended March 31, 2026, Largo reported a sharp operational rebound at its Maracás Menchen mine, with V2O5 equivalent production more than doubling year over year to 2,616 tonnes and ilmenite output up 86.8%. Ore mined rose 90.8% with higher grades, supporting guidance of 10,500–12,000 tonnes of V2O5 equivalent for 2026 and highlighting improved plant stability and cost control.
Despite this production strength, Q1 2026 revenue slipped 2.5% to $27.5 million as high U.S. tariffs on Brazilian imports early in the quarter constrained sales, even as vanadium prices and U.S. ferrovanadium market conditions improved. Largo narrowed its net loss to $4.7 million from $9.2 million on lower operating and administrative costs and an asset recovery, but remained loss-making with negative adjusted EBITDA and a leveraged balance sheet, underscoring sensitivity to trade policy and timing of sales into recovering vanadium markets.
The most recent analyst rating on (TSE:LGO) stock is a Buy with a C$2.80 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 LGO Stock
According to Spark, TipRanks’ AI Analyst, LGO is a Neutral.
The score is held back primarily by weak financial performance (multi-year losses and poor free-cash-flow generation, including cash burn in 2025), with only partial support from an improved balance sheet (no debt). Technicals add mild headwinds (below key moving averages and negative MACD), while valuation is difficult to assess given a negative P/E and no dividend yield.
To see Spark’s full report on LGO stock, click here.
More about Largo Resources
Largo Inc. is a Toronto-based mining company and the world’s largest primary producer of vanadium, with operations centered on the Maracás Menchen mine in Brazil. The company supplies high-purity vanadium products to markets including aerospace and ferrovanadium, and also produces ilmenite concentrate as a by-product, positioning it within both specialty metals and steel-related value chains.
Average Trading Volume: 198,632
Technical Sentiment Signal: Strong Sell
Current Market Cap: C$129.7M
For an in-depth examination of LGO stock, go to TipRanks’ Overview page.