IGO (OTCMKTS:IPGDF) Stock Price Down 31.5% – Should You Sell?

IGO Limited (OTCMKTS:IPGDF)’s stock price traded down 31.5% during mid-day trading on Friday. The stock traded as low as $3.90 and last traded at $4.3150. 350 shares traded hands during mid-day trading, a decline of 52% from the average daily volume of 728 shares. The stock had previously closed at $6.30.

Analyst Ratings Changes

Separately, The Goldman Sachs Group upgraded 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 analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $9.50.

IGO Stock Performance

The firm has a 50 day moving average price of $5.56 and a two-hundred day moving average price of $5.81.

About IGO

IGO Limited is an Australian mining and exploration company focused on producing metals used in the clean energy and electric vehicle supply chains. The company’s portfolio has historically included nickel, lithium and copper assets, with operations and projects located primarily in Western Australia.

IGO’s principal assets include the Nova nickel-copper-cobalt operation in the Fraser Range of Western Australia and interests in lithium businesses operated through joint ventures. The company has held a 49% interest in the Greenbushes lithium mine and the Kwinana lithium hydroxide refinery, alongside Tianqi Lithium, which operates those assets.