IGO Limited (OTCMKTS:IPGDF) Short Interest Update

IGO Limited (OTCMKTS:IPGDF) was the recipient of a large drop in short interest during the month of May. As of May 29th, there was short interest totaling 286,761 shares, a drop 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 Analysts Forecast Growth

Separately, Jefferies Financial Group reiterated an “underperform” rating on shares of IGO in a research report on Monday, February 16th. Three research analysts have rated the stock with a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, IGO has an average rating of “Reduce”.

IGO Price Performance

OTCMKTS:IPGDF remained flat at $7.13 during midday trading on Friday. 1,600 shares of the company were exchanged, compared to its average volume of 576. The business’s 50-day simple moving average is $6.29 and its two-hundred day simple moving average is $5.74. IGO has a 1 year low of $2.48 and a 1 year 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.