In a report released yesterday, Jon Bishop from Jarden upgraded IGO (IPGDF – Research Report) to a Buy, with a price target of A$14.70. The company’s shares closed today at $7.14.
According to TipRanks, Bishop is a 3-star analyst with an average return of 2.1% and a 42.86% success rate.
In addition to Jarden, IGO also received a Buy from Citi’s Kate McCutcheon in a report issued on October 10. However, on October 4, J.P. Morgan downgraded IGO (Other OTC: IPGDF) to a Sell.
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IPGDF market cap is currently $5.57B and has a P/E ratio of 15.22.
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IGO (IPGDF) Company Description:
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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