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IGO
(Sydney:IGO)
IGO (IGO) vs. iShares MSCI Australia ETF (EWA)
IGO Business Overview & Revenue Model
IGO Earnings Call Summary
IGO Financial Statement Overview
| Breakdown | TTM | Jun 2025 | Jun 2024 | Jun 2023 | Jun 2022 | Jun 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 414.90M | 499.90M | 796.40M | 1.05B | 845.20M | 619.86M |
| Gross Profit | -119.80M | -176.50M | -134.60M | 203.20M | 327.30M | 151.74M |
| EBITDA | 1.50M | -811.10M | 148.40M | -592.20M | 468.40M | 358.66M |
| Net Income | -206.60M | -954.60M | 2.80M | 549.10M | 330.90M | 163.84M |
Balance Sheet | ||||||
| Total Assets | 2.30B | 2.36B | 3.57B | 4.74B | 4.86B | 3.61B |
| Cash, Cash Equivalents and Short-Term Investments | 411.00M | 343.50M | 530.40M | 837.60M | 493.90M | 639.46M |
| Total Debt | 21.80M | 31.40M | 48.70M | 432.10M | 959.20M | 25.05M |
| Total Liabilities | 239.10M | 263.90M | 357.50M | 947.70M | 1.43B | 408.86M |
| Stockholders Equity | 2.06B | 2.09B | 3.21B | 3.79B | 3.44B | 3.20B |
Cash Flow | ||||||
| Free Cash Flow | 69.70M | 37.60M | 673.10M | 1.05B | 300.30M | 351.34M |
| Operating Cash Flow | 73.00M | 42.90M | 872.00M | 1.39B | 388.40M | 446.05M |
| Investing Cash Flow | 1.40M | -4.00M | -240.30M | -293.60M | -1.28B | -1.06B |
| Financing Cash Flow | -24.80M | -223.40M | -943.70M | -726.70M | 761.80M | 633.00M |
IGO Technical Analysis
IGO Peers Comparison
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
73 Outperform | AU$2.29B | 12.77 | 151.89% | 5.18% | 6.54% | 0.48% | |
61 Neutral | $10.43B | 7.12 | -0.05% | 2.87% | 2.86% | -36.73% | |
58 Neutral | AU$11.96B | 29.98 | -26.55% | ― | -15.27% | -817.26% | |
56 Neutral | AU$4.39B | -50.75 | -7.26% | 5.03% | -2.30% | -234.27% | |
54 Neutral | AU$16.72B | -173.00 | -5.63% | ― | -38.69% | -174.12% | |
49 Neutral | $6.52B | -31.54 | -35.65% | ― | -37.23% | -32433.33% |
IGO Corporate Events
IGO Limited outlined its value proposition at the BMO Global Metals, Mining and Critical Minerals Conference, emphasizing a clear growth pathway built on a world-class strategic asset base. The company’s portfolio is anchored by a 24.99% stake in the Greenbushes lithium operation, which delivered a 61% EBITDA margin in the first half of fiscal 2026, underscoring the profitability of its lithium exposure.
Management highlighted that growth in battery commodities will be driven by targeted exploration and the firm’s established expertise in mineral processing across nickel, copper, lithium and cobalt. With a strong balance sheet and disciplined capital management, IGO is positioning itself to capitalize on rising demand for critical minerals, reinforcing its standing in the global battery materials supply chain.
The most recent analyst rating on (AU:IGO) stock is a Buy with a A$9.25 price target. To see the full list of analyst forecasts on IGO stock, see the AU:IGO Stock Forecast page.
IGO Limited has notified the Australian Securities Exchange of the appointment of Dean Jenkins as a director, effective 18 February 2026. The disclosure was made under ASX listing rule 3.19A.1 and relevant Corporations Act provisions governing director interest notifications.
According to the initial director’s interest notice, Jenkins currently holds no relevant interests in IGO securities, either directly or through associated entities, and has no disclosed interests in contracts relating to IGO shares. The filing underscores compliance with governance and transparency requirements, while signalling a board refresh without immediate implications for the company’s capital structure.
The most recent analyst rating on (AU:IGO) stock is a Sell with a A$7.50 price target. To see the full list of analyst forecasts on IGO stock, see the AU:IGO Stock Forecast page.
IGO Limited has announced that its Managing Director and CEO, Ivan Vella, and Chief Financial Officer, Kathleen Bozanic, will host an investor webcast to present the company’s half-year results for the first half of the 2026 financial year. The webcast is scheduled for 12:00pm AEDT on Thursday, 19 February 2026, with the results to be released to the ASX earlier that day, underscoring the company’s ongoing commitment to transparent financial disclosure and active investor engagement.
The scheduled webcast provides analysts and shareholders a dedicated forum to hear directly from IGO’s leadership on operational and financial performance for the period. This structured communication approach can help shape market expectations, support informed investment decisions, and reinforce confidence in the company’s governance and reporting practices.
The most recent analyst rating on (AU:IGO) stock is a Buy with a A$9.50 price target. To see the full list of analyst forecasts on IGO stock, see the AU:IGO Stock Forecast page.
IGO Limited reported its second-quarter 2026 results with a solid operational performance at the Nova nickel operation, continued strong margins at the Greenbushes lithium mine, and early progress at the expanded CGP3 processing plant. Greenbushes delivered a 64% EBITDA margin as realised spodumene prices rose 16% to US$850 per tonne and quarterly production of 352kt remained on plan, while Nova generated positive cash flow in line with its life-of-mine plan despite lower sales due to shipping schedules. At the Kwinana lithium hydroxide plant, production reached 2.1kt, or 35% of nameplate capacity, but was impacted by a maintenance outage that pushed unit conversion costs up 46% and resulted in a $51 million EBITDA loss on a 100% basis. Across the group, underlying EBITDA came in at $30 million, underlying free cash flow was a positive $13 million, and net cash held broadly steady at $299 million, underscoring a stable balance sheet as the company focuses on asset optimisation, productivity improvements and further strengthening its safety performance, with TRIFR improving to 5.8 over 12 months.
The most recent analyst rating on (AU:IGO) stock is a Sell with a A$8.40 price target. To see the full list of analyst forecasts on IGO stock, see the AU:IGO Stock Forecast page.
IGO reported a strong operational quarter to 31 December 2025, highlighted by improved safety performance, higher spodumene output and stronger margins at Greenbushes, and continued solid performance at its Nova nickel operation. Greenbushes production rose to 352kt with a 16% lift in realised spodumene prices, pushing EBITDA margins to 64%, while first ore was processed through the new CGP3 plant in December ahead of a planned ramp‑up in the second half of FY26. Although group sales revenue fell 22% due to lower nickel sales volumes and Kwinana lithium hydroxide output was constrained by maintenance, group underlying EBITDA climbed to $30 million, free cash flow remained positive, and IGO ended the quarter with a robust net cash position of $299 million, underscoring its financial resilience as it navigates higher‑cost refining assets and a strengthening lithium and nickel price environment.
The most recent analyst rating on (AU:IGO) stock is a Sell with a A$8.40 price target. To see the full list of analyst forecasts on IGO stock, see the AU:IGO Stock Forecast page.
IGO Limited has announced it will host an investor webcast to present its December 2025 quarterly results on 29 January 2026, led by Managing Director and CEO Ivan Vella and Chief Financial Officer Kathleen Bozanic. The webcast, scheduled for midday AEDT, coincides with the planned release of the quarterly results to the ASX, underscoring the company’s ongoing engagement with investors and the market ahead of what may be a closely watched update for stakeholders in the battery minerals and resources sector.
The most recent analyst rating on (AU:IGO) stock is a Hold with a A$9.00 price target. To see the full list of analyst forecasts on IGO stock, see the AU:IGO Stock Forecast page.
Ausbil Investment Management Limited has notified IGO Ltd that it has ceased to be a substantial holder in the company as of 8 January 2026, following an on‑market disposal of shares. The change reduces Ausbil’s voting power in IGO and may marginally increase the free float and share liquidity, representing a shift in the company’s institutional investor base but without any stated change in control or disclosed new associations.
The most recent analyst rating on (AU:IGO) stock is a Hold with a A$7.10 price target. To see the full list of analyst forecasts on IGO stock, see the AU:IGO Stock Forecast page.
IGO Limited has announced that non-executive director Michael Peter Nossal ceased to be a director of the company effective 1 January 2026. In its final director’s interest notice to the ASX, the company reported that Nossal holds an indirect interest of 110,000 fully paid ordinary shares in IGO through MPJN Nominees Pty Ltd as trustee for the Michael Nossal Superannuation Fund, and confirmed he holds no relevant interests as a registered holder and has no interests in contracts, formalising the conclusion of his board tenure under ASX disclosure rules.
The most recent analyst rating on (AU:IGO) stock is a Hold with a A$7.20 price target. To see the full list of analyst forecasts on IGO stock, see the AU:IGO Stock Forecast page.
IGO Limited has disclosed a change in the securities held by director Ivan Vella, detailing movements in his direct interests in the company’s ordinary shares and related rights. Vella converted 127,691 vested service rights into an equivalent number of fully paid ordinary shares, with his performance rights and unvested service rights remaining subject to existing performance and service conditions, signaling a routine adjustment in equity-based remuneration rather than a change in overall executive incentives.
The most recent analyst rating on (AU:IGO) stock is a Hold with a A$7.20 price target. To see the full list of analyst forecasts on IGO stock, see the AU:IGO Stock Forecast page.
IGO Limited has commenced commissioning of its Chemical Grade Plant 3 (CGP3) at the Greenbushes lithium operation in Western Australia, with first ore fed through the plant on 18 December 2025. The new plant adds approximately 500,000 tonnes per annum of spodumene concentrate capacity, lifting Greenbushes’ total capacity to about 2.1 million tonnes a year, marking a significant expansion in output potential for one of the world’s key lithium assets and reinforcing IGO’s growth trajectory in the battery materials sector.
The most recent analyst rating on (AU:IGO) stock is a Hold with a A$7.20 price target. To see the full list of analyst forecasts on IGO stock, see the AU:IGO Stock Forecast page.
IGO Limited has announced a change in the director’s interest, specifically concerning Ivan Vella, who has acquired additional vested service rights, service rights, and performance rights. This update reflects the company’s ongoing commitment to aligning its leadership’s interests with its strategic goals, potentially impacting its operational focus and stakeholder confidence.
The most recent analyst rating on (AU:IGO) stock is a Buy with a A$7.50 price target. To see the full list of analyst forecasts on IGO stock, see the AU:IGO Stock Forecast page.
IGO Limited has announced the issuance of new unquoted securities, including 2,423,704 performance rights and 1,080,284 service rights, as part of its employee incentive scheme. This move is likely aimed at enhancing employee engagement and aligning their interests with company performance, potentially strengthening IGO’s operational capabilities and market position.
The most recent analyst rating on (AU:IGO) stock is a Buy with a A$7.50 price target. To see the full list of analyst forecasts on IGO stock, see the AU:IGO Stock Forecast page.
IGO Limited has announced that it has ceased to be a substantial holder in Boa Resources Limited as of November 25, 2025. This change in holding is due to a dilution of interest following a share issue by Boa Resources. The announcement may impact IGO’s strategic positioning and influence within Boa Resources, potentially affecting its stakeholders and market dynamics.
The most recent analyst rating on (AU:IGO) stock is a Buy with a A$5.75 price target. To see the full list of analyst forecasts on IGO stock, see the AU:IGO Stock Forecast page.
IGO Limited has announced the appointment of Johan van Vuuren as its new Chief Financial Officer, effective April 1, 2026. Van Vuuren brings over 20 years of experience in finance and commercial roles across various industries and regions, including mining, energy, and petrochemicals. His expertise in digital transformation and corporate strategy is expected to support IGO’s refreshed strategy and enhance its governance and financial transparency. The transition follows the tenure of Kathleen Bozanic, who significantly contributed to the company’s governance and strategic positioning.
The most recent analyst rating on (AU:IGO) stock is a Buy with a A$5.75 price target. To see the full list of analyst forecasts on IGO stock, see the AU:IGO Stock Forecast page.
IGO Limited has announced the appointment of Vanessa Guthrie as a director, effective December 1, 2025. Guthrie holds 9,523 ordinary shares through Xenolith Holdings Pty Ltd ATF Stolz-Guthrie Family Trust, indicating her vested interest in the company’s future. This appointment is part of IGO’s strategic efforts to strengthen its leadership team, potentially impacting its market positioning and stakeholder relations.
The most recent analyst rating on (AU:IGO) stock is a Hold with a A$5.30 price target. To see the full list of analyst forecasts on IGO stock, see the AU:IGO Stock Forecast page.
Schroder Investment Management Australia Ltd has ceased to be a substantial holder in IGO Ltd as of November 20, 2025. This change in holding reflects a series of transactions involving both purchases and sales of IGO’s ordinary shares, impacting the company’s shareholder structure and potentially influencing its market dynamics.
The most recent analyst rating on (AU:IGO) stock is a Hold with a A$7.00 price target. To see the full list of analyst forecasts on IGO stock, see the AU:IGO Stock Forecast page.