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

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

Analyst Ratings Changes

A number of analysts have recently weighed in on IPGDF shares. Royal Bank Of Canada lowered shares of IGO to a “sector perform” rating in a research note on Wednesday, December 10th. Jefferies Financial Group restated 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 given a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Reduce”.

IGO Price Performance

OTCMKTS:IPGDF opened at $5.65 on Friday. The company’s 50-day moving average price is $5.82 and its 200-day moving average price is $4.60. IGO has a twelve month low of $2.12 and a twelve month high of $6.36.

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.