IGO (OTCMKTS:IPGDF) Trading 7.1% Higher – Still a Buy?

IGO Limited (OTCMKTS:IPGDF)’s stock price shot up 7.1% during trading on Monday . The stock traded as high as $5.26 and last traded at $5.26. 270 shares changed hands during trading, a decline of 85% from the average session volume of 1,807 shares. The stock had previously closed at $4.91.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on IPGDF. Royal Bank Of Canada lowered IGO to a “sector perform” rating in a research note on Wednesday, December 10th. UBS Group raised shares of IGO to a “neutral” rating in a research report on Tuesday, August 26th. Three equities research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, IGO presently has a consensus rating of “Reduce”.

IGO Stock Up 7.1%

The business has a 50 day moving average price of $4.12 and a 200-day moving average price of $3.51.

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.