Short Interest in IGO Limited (OTCMKTS:IPGDF) Increases By 70.5%

IGO Limited (OTCMKTS:IPGDF) was the recipient of a large growth in short interest in the month of 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 trading volume of 255 shares, the short-interest ratio is currently 327.8 days.

Analysts Set New Price Targets

Separately, The Goldman Sachs Group raised 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 equities research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $9.50.

IGO Stock Performance

IPGDF stock remained flat at $5.60 during trading on Wednesday. The firm has a fifty day moving average price of $5.51 and a 200-day moving average price of $5.82. IGO has a 12-month low of $3.15 and a 12-month high of $7.12.

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.