Short Interest in IGO Limited (OTCMKTS:IPGDF) Rises By 41.3%

IGO Limited (OTCMKTS:IPGDF) was the target of a large growth in short interest during the month of March. As of March 13th, there was short interest totaling 175,952 shares, a growth of 41.3% from the February 26th total of 124,555 shares. Based on an average trading volume of 0 shares, the days-to-cover ratio is presently ∞ days.

Analysts Set New Price Targets

Several equities research analysts have commented on IPGDF shares. Jefferies Financial Group reaffirmed an “underperform” rating on shares of IGO in a research note on Monday, February 16th. Royal Bank Of Canada cut shares of IGO to a “sector perform” rating in a research report on Wednesday, December 10th. Three analysts have rated the stock with a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Reduce”.

IGO Stock Performance

Shares of OTCMKTS:IPGDF remained flat at $5.25 during trading on Friday. The company’s 50-day moving average is $5.70 and its two-hundred day moving average is $4.72. IGO has a 52-week low of $2.12 and a 52-week high of $6.36.

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.