The company’s shares closed last Friday at $7.79.
According to TipRanks.com, Fagan is a 4-star analyst with an average return of 10.2% and a 61.0% success rate. Fagan covers the Basic Materials sector, focusing on stocks such as Fortescue Metals Group Ltd, Sandfire Resources Limited, and Pilbara Minerals Limited.
Currently, the analyst consensus on IGO is a Moderate Buy with an average price target of $9.18, which is a 17.9% upside from current levels. In a report issued on July 27, Citigroup also maintained a Buy rating on the stock with a price target.
The company has a one-year high of $11.03 and a one-year low of $6.31. Currently, IGO has an average volume of 285.
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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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