Largo Reduces Operating Costs by 31% in Q3 2024 Financial Results; Maintains Leading Cost Position in Global Vanadium Sector [Yahoo! Finance]
Largo Inc. - Common Shares (LGO)
Company Research
Source: Yahoo! Finance
Revenues of $29.9 million in Q3 2024 ($27.2 million from vanadium sales and $2.7 million from ilmenite sales) vs. revenues of $44.0 million from vanadium sales in Q3 2023 Revenues per lb sold of V O equivalent of $6.28 in Q3 2024 vs. $8.34 in Q3 2023; Decline in revenues was largely driven by a lower vanadium price environment and lower vanadium sales volumes Operating costs were $29.5 million in Q3 2024, a 31% reduction compared to $42.6 million in Q3 2023; Cash operating costs excluding royalties per pound sold of $3.12 in Q3 2024, a 43% reduction compared to the $5.44 per lb sold in Q3 2023 Mining operations adjusted EBITDA of $2.4 million in Q3 2024 vs. mining operations adjusted EBITDA of $2.7 million in Q3 2023 Net loss of $10.1 million (including $3.3 million in non-recurring items) in Q3 2024, a 15% improvement over the net loss of $11.9 million (including $2.5 million in non-recurring items) in Q3 2023; Basic loss per share of $0.16 in Q3 2024 vs. basic loss per shar
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LGO
News
- Largo Inc. (NYSE: LGO) had its "buy" rating re-affirmed by analysts at HC Wainwright. They now have a $4.20 price target on the stock.MarketBeat
- Storion Energy Announced as New Safekeeper of its Held Vanadium Units; Anticipates Increased Demand for Leased Vanadium ElectrolyteGlobeNewswire
- Largo and Stryten Energy to Form Storion Energy for the Manufacture of Vanadium Electrolyte and Battery Components for Long Duration Energy Storage [Yahoo! Finance]Yahoo! Finance
- Stryten Energy and Largo Launch Long-Duration Energy Storage Company [Yahoo! Finance]Yahoo! Finance
- Stryten Energy and Largo Launch Long-Duration Energy Storage CompanyBusiness Wire
LGO
Sec Filings
- 12/19/24 - Form 6-K
- 11/26/24 - Form 6-K
- 11/26/24 - Form 6-K
- LGO's page on the SEC website