Short Interest in IGO Limited (OTCMKTS:IPGDF) Decreases By 52.8%

IGO Limited (OTCMKTS:IPGDF) was the target of a significant drop in short interest in 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 volume of 207 shares, the short-interest ratio is currently 1,385.3 days.

IGO Price Performance

OTCMKTS IPGDF remained flat at $7.13 during trading hours on Friday. The company had a trading volume of 1,600 shares, compared to its average volume of 576. The firm has a fifty day moving average of $6.29 and a 200-day moving average of $5.73. IGO has a fifty-two week low of $2.48 and a fifty-two week high of $7.13.

Wall Street Analyst Weigh In

Separately, Jefferies Financial Group reaffirmed an “underperform” rating on shares of IGO in a research note 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. Based on data from MarketBeat.com, IGO currently has a consensus 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.