IGO Limited (OTCMKTS:IPGDF) Short Interest Update

IGO Limited (OTCMKTS:IPGDF) was the target of a large growth in short interest in August. As of August 31st, there was short interest totaling 83,593 shares, a growth of 70.5% from the August 15th total of 49,020 shares. Based on an average daily volume of 255 shares, the short-interest ratio is currently 327.8 days.

IGO Stock Performance

OTCMKTS:IPGDF remained flat at $5.60 during trading hours on Thursday. IGO has a 12 month low of $3.15 and a 12 month high of $7.12. The firm has a fifty day simple moving average of $5.50 and a 200-day simple moving average of $5.81.

Wall Street Analyst Weigh In

Separately, The Goldman Sachs Group raised shares of IGO from a “neutral” rating to a “buy” rating and set a $9.50 price target on the stock in a research note on Wednesday, September 2nd. One research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $9.50.

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.