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IGO ( (AU:IGO) ) has issued an update.
IGO Limited reported a challenging financial year for FY25, with a net loss after tax of $955 million, primarily due to lower sales at Nova, final production from the Forrestania Operation, and significant impairments, including the full impairment of the Kwinana refinery assets. Despite these setbacks, the company maintains a strong balance sheet with $280 million in cash and $300 million in undrawn debt. IGO’s refreshed strategy focuses on clean energy materials, with notable progress in exploration and optimization programs at Greenbushes. The company remains optimistic about the lithium market’s fundamentals and is committed to achieving growth through strategic partnerships and technological advancements.
The most recent analyst rating on (AU:IGO) stock is a Hold with a A$4.80 price target. To see the full list of analyst forecasts on IGO stock, see the AU:IGO Stock Forecast page.
More about IGO
IGO Limited operates in the mining industry, focusing on the production of clean energy materials such as lithium and nickel. The company is involved in exploration and production activities, with significant operations at the Greenbushes lithium mine and the Nova nickel-copper-cobalt operation. IGO is committed to strategic growth and optimizing its assets to support the clean energy transition.
Average Trading Volume: 4,799,553
Technical Sentiment Signal: Sell
Current Market Cap: A$3.9B
For detailed information about IGO stock, go to TipRanks’ Stock Analysis page.