IGO Limited (OTCMKTS:IPGDF) Sees Large Drop in Short Interest

IGO Limited (OTCMKTS:IPGDF) saw a large drop in short interest during the month of January. As of January 15th, there was short interest totaling 303,202 shares, a drop of 55.3% from the December 31st total of 677,781 shares. Based on an average daily volume of 530 shares, the days-to-cover ratio is currently 572.1 days. Based on an average daily volume of 530 shares, the days-to-cover ratio is currently 572.1 days.

IGO Trading Down 7.7%

IPGDF stock traded down $0.49 on Thursday, reaching $5.87. 150 shares of the company’s stock were exchanged, compared to its average volume of 994. The stock has a fifty day moving average of $5.24 and a 200-day moving average of $4.07. IGO has a twelve month low of $2.12 and a twelve month high of $6.36.

Wall Street Analysts Forecast Growth

Separately, Royal Bank Of Canada downgraded IGO to a “sector perform” rating in a report on Wednesday, December 10th. Three equities research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently 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.