In a report released on July 13, Lyndon Fagan from J.P. Morgan maintained a Hold rating on IGO (IPGDF – Research Report), with a price target of A$16.20. The company’s shares closed yesterday at $10.38.
Fagan covers the Basic Materials sector, focusing on stocks such as Rio Tinto Limited, Bluescope Steel Limited, and Sandfire Resources Limited. According to TipRanks, Fagan has an average return of 10.4% and a 62.79% success rate on recommended stocks.
In addition to J.P. Morgan, IGO also received a Hold from Morgan Stanley’s Rahul Anand in a report issued today. However, on the same day, Macquarie maintained a Buy rating on IGO (Other OTC: IPGDF).
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The company has a one-year high of $11.43 and a one-year low of $6.50. Currently, IGO has an average volume of 1,586.
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IGO Ltd. is a development stage company, which engages in the exploration and mining of gold and nickel. It operates through the following business segments: Tropicana Operation; Long Operation; Jaguar Operation; Nova Project; and New Business and Regional Exploration Activities. The Tropicana Operation segment represents the joint venture interest in the Tropicana Gold Mine. The Long Operation segment offers nickel and copper. The Jaguar Operation segment produces copper and zinc concentrates. The Nova Project segment involves the construction and development of the Nova nickel, copper, and cobalt mine located east of Norseman in Western Australia. The New Business and Regional Exploration Activities segment covers the Stockman Project. IGO was founded in May 2000 and is headquartered in South Perth, Australia.
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