Short Interest in IGO Limited (OTCMKTS:IPGDF) Drops By 31.9%

IGO Limited (OTCMKTS:IPGDF) was the recipient of a significant decline in short interest in the month of December. As of December 15th, there was short interest totaling 814,761 shares, a decline of 31.9% from the November 30th total of 1,195,728 shares. Based on an average daily trading volume, of 2,802 shares, the short-interest ratio is presently 290.8 days. Based on an average daily trading volume, of 2,802 shares, the short-interest ratio is presently 290.8 days.

IGO Stock Performance

Shares of IPGDF remained flat at $5.40 on Monday. IGO has a 52 week low of $2.12 and a 52 week high of $5.40. The business’s 50-day moving average price is $4.27 and its 200-day moving average price is $3.58.

Analyst Upgrades and Downgrades

Separately, Royal Bank Of Canada lowered IGO to a “sector perform” rating in a research note on Wednesday, December 10th. Three research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, IGO has an average rating of “Reduce”.

About IGO

IGO Limited, trading as IPGDF on the OTC Markets, is an Australian-based diversified mining and metals company with a strategic focus on battery-cycle commodities and precious metals. Originally founded as Independence Group NL in 1997, the company rebranded to IGO Limited in 2018 to reflect its evolving portfolio. IGO’s operations span the extraction, processing and marketing of key industrial minerals and metals that underpin the global energy transition.

The company’s core asset portfolio includes the Nova nickel–copper–cobalt operation in Western Australia, which produces mixed sulphide concentrate; a 50% interest in the Tropicana gold joint venture; and the Kwinana Nickel Refinery, which refines concentrate into battery-grade nickel products.