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

IGO Limited (OTCMKTS:IPGDF) saw a significant drop in short interest in January. As of January 15th, there was short interest totaling 303,202 shares, a drop of 55.3% from the December 31st total of 677,781 shares. Based on an average trading volume of 530 shares, the short-interest ratio is currently 572.1 days. Based on an average trading volume of 530 shares, the short-interest ratio is currently 572.1 days.

IGO Stock Performance

IPGDF opened at $5.87 on Friday. The business has a 50 day moving average price of $5.27 and a 200 day moving average price of $4.08. IGO has a twelve month low of $2.12 and a twelve month high of $6.36.

Wall Street Analyst Weigh In

Separately, Royal Bank Of Canada cut IGO to a “sector perform” rating in a report on Wednesday, December 10th. Three research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Reduce”.

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.