IGO Limited (OTCMKTS:IPGDF) Short Interest Down 22.4% in March

IGO Limited (OTCMKTS:IPGDF) was the recipient of a significant decline in short interest during the month of March. As of March 31st, there was short interest totaling 136,607 shares, a decline of 22.4% from the March 15th total of 175,952 shares. Based on an average trading volume of 116 shares, the short-interest ratio is presently 1,177.6 days.

IGO Stock Performance

IPGDF stock opened at $5.88 on Friday. The company has a fifty day moving average price of $5.54 and a 200 day moving average price of $4.93. IGO has a 12 month low of $2.31 and a 12 month high of $6.36.

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 equities research analysts have rated the stock with a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the stock 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.