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

IGO Limited (OTCMKTS:IPGDF) was the recipient of a large drop in short interest in the month of February. As of February 13th, there was short interest totaling 96,174 shares, a drop of 24.7% from the January 29th total of 127,695 shares. Based on an average trading volume of 240 shares, the days-to-cover ratio is presently 400.7 days. Based on an average trading volume of 240 shares, the days-to-cover ratio is presently 400.7 days.

Wall Street Analyst Weigh In

A number of analysts have recently commented on IPGDF shares. Royal Bank Of Canada cut shares of IGO to a “sector perform” rating in a research note on Wednesday, December 10th. Jefferies Financial Group reiterated an “underperform” rating on shares of IGO in a research note on Monday, February 16th. Three equities research analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Reduce”.

IGO Stock Performance

IGO stock traded down $0.45 during trading on Tuesday, reaching $5.65. 1,000 shares of the company were exchanged, compared to its average volume of 744. The stock’s 50 day simple moving average is $5.78 and its two-hundred day simple moving average is $4.48. IGO has a 52-week low of $2.12 and a 52-week high of $6.36.

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.