Short Interest in IGO Limited (OTCMKTS:IPGDF) Drops By 57.9%
by Kim Johansen · The Markets DailyIGO Limited (OTCMKTS:IPGDF – Get Free Report) was the target of a significant decline in short interest in the month of January. As of January 30th, there was short interest totaling 127,695 shares, a decline of 57.9% from the January 15th total of 303,202 shares. Based on an average daily volume of 1,390 shares, the short-interest ratio is currently 91.9 days. Based on an average daily volume of 1,390 shares, the short-interest ratio is currently 91.9 days.
Analyst Upgrades and Downgrades
Separately, Royal Bank Of Canada downgraded shares of IGO to a “sector perform” rating in a research note on Wednesday, December 10th. Three research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Reduce”.
View Our Latest Research Report on IGO
IGO Price Performance
IPGDF stock remained flat at $6.00 during midday trading on Friday. The company has a 50 day simple moving average of $5.53 and a two-hundred day simple moving average of $4.25. IGO has a fifty-two week low of $2.12 and a fifty-two 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.