Welcome to our dedicated page for Largo news (Ticker: LGO), a resource for investors and traders seeking the latest updates and insights on Largo stock.
Largo Inc. reports operating, commercial and financing developments for a primary vanadium producer with mining and processing operations centered on the Maracás Menchen Mine in Bahia, Brazil. News commonly covers V2O5 production and sales, ilmenite concentrate output, ore grades, recovery rates, mine access, cost controls, and demand conditions in steel, aerospace, defense, chemical and energy-storage markets.
Company updates also address tariff effects on Brazilian-origin vanadium products, ferrovanadium and V2O5 market conditions, by-product opportunities involving iron ore calcine, copper, platinum group metals, nickel and cobalt, and capital actions such as at-the-market common-share offerings. Largo also has exposure to long-duration energy storage through Storion Energy and discloses governance changes when management roles change.
Summary not available.
Summary not available.
Summary not available.
Summary not available.
Summary not available.
Largo Inc. (LGO) reported its Q1 2023 operational results, producing 2,111 tonnes of vanadium pentoxide (V2O5), a decrease from 2,442 tonnes in Q1 2022. Despite heavy rains impacting high-grade ore availability, sales rose 28% to 2,849 tonnes compared to 2,232 tonnes in Q1 2022. The company is on track with production guidance and is set to complete its ilmenite concentration plant by Q2 2023. Largo Clean Energy is advancing its 6.1 MWh vanadium redox flow battery installation for Enel Green Power in Spain. Furthermore, Largo has joined the Long Duration Energy Storage Council to support global decarbonization efforts. Production challenges stem from adverse weather, but demand for vanadium, especially in the aerospace sector, remains strong.
Argus Research has initiated equity research coverage on Largo Inc. (LGO), a leading vanadium producer. The firm anticipates increasing vanadium demand, benefiting Largo's profitability. The Maracás Menchen Mine is expected to improve yield post-2022 operational challenges. Largo's production of ilmenite, expected to commence in mid-2023, adds revenue potential. With $54.5 million in cash and $115.2 million in working capital, Largo is positioned to fund projects. Despite a 42% stock decline in 2022, Argus estimates a fair value of $9, significantly higher than the current price of $5.
Largo reported Q4 2022 revenues of $47.5 million, a 6% decrease from Q4 2021, with an annual total of $229.3 million, marking a 16% increase year-over-year. The company faced a net loss of $15.6 million in Q4 2022, compared to a net income of $1.0 million in Q4 2021. Operating costs surged to $44.5 million in Q4 2022, up from $37.7 million in Q4 2021, primarily due to inflation and mining disruption from heavy rains. Production of V2O5 was stable at 2,004 tonnes for Q4 2022. Despite challenges, Largo anticipates a 10% production increase in 2023, driven by growing demand in the energy storage sector.
Largo Inc. (LGO) is set to announce its fourth quarter and annual 2022 financial results on March 9, 2023, after market closure. A conference call to discuss these results will take place on March 10, 2023, at 1:00 p.m. ET. The call can be accessed via local dial-in numbers or through a registration link for an automated callback. Largo, which specializes in vanadium supply, is advancing its operations with the implementation of a titanium dioxide pigment plant and enhancing its clean energy division with innovative VCHARGE vanadium batteries. The company's focus remains on supporting a low carbon future while producing high-quality vanadium.
Largo Inc. (NASDAQ: LGO, TSX: LGO) has announced a leadership change as Paulo Misk has left his position as President and CEO. Daniel Tellechea, previously a member of the Board since 2015 and Chair of the Operations Committee, has been appointed interim CEO. The Board has initiated a search for a permanent CEO while maintaining the company’s objectives for the year, including its 2023 guidance. Tellechea brings extensive experience in the metals and mining sector, particularly in vanadium operations in Brazil. Largo continues to focus on adding shareholder value through its dual strategy of vanadium supply and clean energy solutions.