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

IGO Limited (OTCMKTS:IPGDF) was the recipient of a large decrease in short interest in March. As of March 31st, there was short interest totaling 136,607 shares, a decrease 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 currently 1,177.6 days.

IGO Stock Up 10.5%

IPGDF stock opened at $5.88 on Wednesday. The business’s 50-day moving average is $5.53 and its two-hundred day moving average is $4.91. IGO has a 1 year low of $2.31 and a 1 year high of $6.36.

Wall Street Analyst Weigh In

Separately, Jefferies Financial Group reissued an “underperform” rating on shares of IGO in a research note 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 company. Based on data from MarketBeat.com, the stock currently has an average 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.