IGO Limited (OTCMKTS:IPGDF) Short Interest Up 70.5% in August

IGO Limited (OTCMKTS:IPGDF) saw a significant growth in short interest in August. As of August 31st, there was short interest totaling 83,593 shares, a growth of 70.5% from the August 15th total of 49,020 shares. Based on an average trading volume of 255 shares, the short-interest ratio is presently 327.8 days.

IGO Stock Performance

IPGDF stock remained flat at $5.60 during trading on Wednesday. IGO has a fifty-two week low of $3.15 and a fifty-two week high of $7.12. The business’s fifty day simple moving average is $5.51 and its 200-day simple moving average is $5.82.

Analysts Set New Price Targets

Separately, The Goldman Sachs Group upgraded shares of IGO from a “neutral” rating to a “buy” rating and set a $9.50 target price on the stock in a report on Wednesday, September 2nd. One equities research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $9.50.

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.