IGO (OTCMKTS:IPGDF) Trading Down 7% – Should You Sell?

IGO Limited (OTCMKTS:IPGDF)’s stock price was down 7% during mid-day trading on Tuesday . The stock traded as low as $5.81 and last traded at $5.81. Approximately 248 shares changed hands during mid-day trading, a decline of 46% from the average daily volume of 458 shares. The stock had previously closed at $6.25.

Analysts Set New Price Targets

Separately, Royal Bank Of Canada downgraded IGO to a “sector perform” rating in a report on Wednesday, December 10th. Three analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Reduce”.

IGO Price Performance

The stock’s 50-day simple moving average is $4.99 and its 200 day simple moving average is $3.93.

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.