IGO Limited (OTCMKTS:IPGDF) Short Interest Update

IGO Limited (OTCMKTS:IPGDF) was the target of a significant increase in short interest in April. As of April 30th, there was short interest totaling 579,613 shares, an increase of 395.6% from the April 15th total of 116,951 shares. Based on an average daily volume of 249 shares, the short-interest ratio is currently 2,327.8 days.

Analyst Ratings Changes

Separately, Jefferies Financial Group reaffirmed an “underperform” rating on shares of IGO in a research report on Monday, February 16th. Three investment analysts have rated the stock with a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Reduce”.

IGO Price Performance

Shares of OTCMKTS IPGDF remained flat at $6.50 during mid-day trading on Thursday. The business has a 50 day simple moving average of $5.65 and a 200-day simple moving average of $5.28. IGO has a 1-year low of $2.35 and a 1-year high of $6.74.

IGO Company Profile

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.