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

IGO Limited (OTCMKTS:IPGDF) saw a significant growth in short interest in the month of March. As of March 13th, there was short interest totaling 175,952 shares, a growth of 41.3% from the February 26th total of 124,555 shares. Based on an average trading volume of 0 shares, the days-to-cover ratio is presently ∞ days.

IGO Price Performance

Shares of IPGDF remained flat at $5.25 on Friday. IGO has a 52 week low of $2.12 and a 52 week high of $6.36. The company’s 50-day moving average is $5.70 and its 200-day moving average is $4.73.

Analysts Set New Price Targets

IPGDF has been the topic of a number of research reports. Jefferies Financial Group reaffirmed an “underperform” rating on shares of IGO in a research report on Monday, February 16th. Royal Bank Of Canada downgraded shares of 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 two have issued a Sell rating to the company. Based on data from MarketBeat.com, IGO currently has an average rating of “Reduce”.

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.