IGO Limited (OTCMKTS:IPGDF) Sees Significant Increase in Short Interest

IGO Limited (OTCMKTS:IPGDF) was the target of a significant growth in short interest in the month of February. As of February 27th, there was short interest totaling 124,555 shares, a growth of 29.5% from the February 12th total of 96,174 shares. Based on an average daily volume of 357 shares, the short-interest ratio is currently 348.9 days. Based on an average daily volume of 357 shares, the short-interest ratio is currently 348.9 days.

Analyst Ratings Changes

A number of equities research analysts recently commented on the company. Jefferies Financial Group reiterated an “underperform” rating on shares of IGO in a research report on Monday, February 16th. Royal Bank Of Canada lowered shares of IGO to a “sector perform” rating in a research report on Wednesday, December 10th. Three investment analysts have rated the stock with a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, IGO currently has an average rating of “Reduce”.

IGO Price Performance

Shares of IPGDF stock opened at $5.65 on Tuesday. IGO has a 52-week low of $2.12 and a 52-week high of $6.36. The business has a 50-day simple moving average of $5.83 and a 200-day simple moving average of $4.62.

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.