Short Interest in IGO Limited (OTCMKTS:IPGDF) Decreases By 52.8%

IGO Limited (OTCMKTS:IPGDF) saw a significant decrease in short interest in the month of May. As of May 29th, there was short interest totaling 286,761 shares, a decrease of 52.8% from the May 14th total of 607,695 shares. Based on an average daily trading volume, of 207 shares, the short-interest ratio is currently 1,385.3 days.

Wall Street Analyst Weigh In

Separately, Jefferies Financial Group reissued an “underperform” rating on shares of IGO in a research note on Monday, February 16th. Three investment analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, IGO currently has a consensus rating of “Reduce”.

IGO Stock Performance

Shares of IPGDF stock remained flat at $7.13 on Friday. The stock had a trading volume of 1,600 shares, compared to its average volume of 576. The company’s fifty day moving average price is $6.29 and its 200-day moving average price is $5.73. IGO has a 12 month low of $2.48 and a 12 month high of $7.13.

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.