Largo Inc Stock Price, News & Analysis

Largo Inc. announces that Largo Physical Vanadium Corp. (LPV) shares began trading on the TSX Venture Exchange under the ticker symbol 'VAND' on September 23, 2022, after completing a qualifying transaction. This new listing offers investors direct exposure to vanadium, a crucial metal for clean energy and greener steel. LPV's strategy focuses on reducing vanadium commodity costs, addressing price volatility challenges, and advancing vanadium redox flow batteries (VRFBs) for energy storage. Largo aims to enhance value through higher vanadium production and the energy storage market.

Largo Inc. announced that Column Capital Corp. received conditional approval from the TSX Venture Exchange for its qualifying transaction with Largo Physical Vanadium (LPV). This milestone allows LPV's common shares to trade under the symbol 'VAND'. The company plans to offer investors a secure investment alternative in physical vanadium, with LPV initially holding 200 metric tons of vanadium pentoxide equivalent. Largo will support LPV with services and has granted LPV a right of first refusal for non-committed commercial vanadium products through a supply agreement.

Largo reported Q2 2022 revenues of $84.8 million, a 56% increase from Q2 2021, driven by stronger vanadium prices. Net income rose 113% to $18.0 million, with basic EPS of $0.28. However, cash provided by operations dropped to $2.9 million from $19.1 million year-over-year. Operating costs surged to $50.7 million, up from $35.0 million, mainly due to increased consumable costs. Production guidance was revised down to 11,000 – 12,000 tonnes of V2O5 equivalent from 11,600 – 12,400 tonnes.

Largo Clean Energy Corp., a subsidiary of Largo, has signed a non-binding memorandum of understanding (MOU) with Ansaldo Green Tech to explore a joint venture for the commercial deployment of Vanadium Redox Flow Batteries (VRFB) in Europe, North Africa, and the Middle East. The MOU includes a 150-day exclusivity period for negotiations, during which neither party will discuss these technologies with third parties. The potential joint venture aims to address identified needs in the European energy sector.

Largo Inc. will release its second quarter 2022 financial results on August 10 after market close. A webcast and conference call to discuss these results will be held on August 11 at 1:00 p.m. ET. Investors can register for the webcast through the provided link and participate via dial-in numbers. Largo is recognized for its high-grade vanadium products and is also advancing a titanium dioxide pigment plant and its U.S.-based energy storage division with VCHARGE vanadium batteries. The company's shares trade under the symbol LGO.

Largo Inc. reported strong Q2 2022 results with V₂O₅ production of 3,084 tonnes, exceeding both Q1 2022 and Q2 2021 figures. A record production of 1,168 tonnes was achieved in May 2022. Sales of 3,291 tonnes represent a 47% increase from the previous quarter and a 9% rise year-over-year. The average benchmark price rose to $11.08 per lb, a significant increase from last year. An automatic repurchase plan was also initiated under the normal course issuer bid to enhance shareholder value.

Largo Inc. held its Annual and Special Meeting of Shareholders on June 30, 2022, with 50,187,930 common shares voted, representing 77.4% of the outstanding shares. Shareholders approved all matters, including the election of directors and the appointment of KPMG LLP as auditors. Key director nominees included David Brace, who received 96.9% of votes in favor, and Paulo Misk, with 97.2%. The company aims to enhance value through vanadium production and a clean energy division focused on sustainability.

Largo Inc. announces that the Toronto Stock Exchange has accepted its notice for a normal course issuer bid (NCIB) to buy back up to 3,641,098 common shares. This represents approximately 10% of its public float, with shares trading at market prices. The NCIB will run from June 1, 2022, to May 31, 2023, allowing daily repurchases of up to 24,510 shares. Largo believes its share price undervalues its intrinsic worth and future prospects. The company focuses on vanadium production and energy storage solutions, aiming for value enhancement in its business strategy.