IGO (OTCMKTS:IPGDF) Trading Down 7% – Time to Sell?

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

Wall Street Analyst Weigh In

Separately, Royal Bank Of Canada cut 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 assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Reduce”.

IGO Stock Down 7.0%

The business’s fifty day moving average is $4.99 and its two-hundred day 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.