Largo Inc.

Largo has a long and successful history as one of the world's preferred vanadium companies through the supply of its VPURE™ and VPURE+™ products, which are sourced from one of the world's highest-grade vanadium deposits at the Company's Maracás Menchen Mine in Brazil.

Aiming to enhance value creation at Largo, the Company is in the process of implementing a titanium dioxide pigment plant using feedstock sourced from its existing operations in addition to advancing its U.S.-based clean energy division with its VCHARGE vanadium batteries. Largo's VCHARGE vanadium batteries contain a variety of innovations, enabling an efficient, safe and ESG-aligned long duration solution that is fully recyclable at the end of its 25+ year lifespan.

Producing some of the world's highest quality vanadium, Largo's strategic business plan is based on two pillars: 1.) vanadium production from its operations in Brazil and 2.) energy storage business in the U.S. to support a low carbon future through its clean energy division.

Expert Comments:

Michael Heim, Noble Capital Markets

"Largo Inc. expects to begin producing ilmenite in June. . .the company's movement into ilmenite and potentially titanium dioxide could accelerate growth. . .we continue to believe the long-term prospects for Largo and its stock price remain favorable and reiterate our Outperform rating."

Michael Heim, Noble Capital Markets

"We are initiating coverage on Largo Inc. with an Outperform rating. . .we believe the company offers investors an attractive way to play an expected growth in the demand for vanadium due to its use in large-scale energy storage. Largo is the largest producer of vanadium outside of China and Russia."

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Bryce Adams, CIBC World Markets

"In Q4/22 Largo Inc. secured a $20M debt facility with a Brazilian bank for a three-year term at 8.2%, along with two debt facilities in January: $15M for a two-year term at 6.85% and $10M for a three-year term at 8.36%. . .we forecast a year-end 2023 cash balance of about $24M."

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Experts Following This Company

Bryce Adams – CIBC World Markets
Carlos de Alba – Morgan Stanley
headshot of Heiko Ihle
Heiko Ihle, Managing Director – H.C. Wainwright & Co.
Alexander Jackson – RBC Capital Markets
Gordon Lawson, Research Associate – Paradigm Capital

Company News 

3/9/2023 – Largo Reports Fourth Quarter and Full Year 2022 Financial Results; Highlights Recent Strength in the Vanadium Market and Progress on its Two-Pillar Strategy as a Tier 1 Vanadium Supplier and Emerging Clean Energy Battery Producer

2/17/2023 – Largo to Release Fourth Quarter and Annual 2022 Financial Results on March 9, 2023

2/16/2023 – Largo Announces Change in Leadership

1/24/2023 – Largo Reports Fourth Quarter and Full Year 2022 Operational and Sales Results; Provides 2023 Guidance

The information provided above is from analysts, newsletters and other contributors. Please contact the company and visit its website before making an investment decision.See disclaimer for more details.

Streetwise Company Fact Sheet

Largo Inc.


2023/4/1 20:04:47

Analyst coverage

CIBC World MarketsBryce Adams
Morgan StanleyCarlos de Alba
H.C. Wainwright & Co.Heiko Ihle
RBC Capital MarketsAlexander Jackson
Paradigm CapitalGordon Lawson

Company News

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Streetwise Reports Articles

02/06/2023 - View Article
01/13/2023 - View Article

Streetwise - Largo Inc. Ownership Overview*


*Share Structure as of 1/20/2023
Investing Highlights
Profitable vanadium business with an emerging battery division
Large and growing TAM for Largo's product offering
Significantly undervalued compared to mining and battery peers
catalyst Calendar
173% more vanadium needed by 2050 with a 41% CAGR for VRFBs by 2031
Mine with $2.0 billion after-tax NPV and $4.2 billion after-tax LOM cash flow
Opportunity for rerating based on the expected development of Largo's growth plans