Latest news with #IGO
Business Insider
4 days ago
- Business
- Business Insider
IGO (IPGDF) was downgraded to a Sell Rating at UBS
UBS analyst Levi Spry downgraded IGO (IPGDF – Research Report) to a Sell yesterday and set a price target of A$3.60. Confident Investing Starts Here: Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions Receive undervalued, market resilient stocks right to your inbox with TipRanks' Smart Value Newsletter According to TipRanks, Spry is a 5-star analyst with an average return of 10.3% and a 64.42% success rate. Spry covers the Basic Materials sector, focusing on stocks such as Perseus Mining , Northern Star Resources Ltd, and Gold Road Resources Ltd. In addition to UBS, IGO also received a Sell from CLSA's Jonathan Sharp in a report issued on May 26. However, yesterday, Goldman Sachs maintained a Buy rating on IGO (Other OTC: IPGDF).
Business Insider
5 days ago
- Business
- Business Insider
Goldman Sachs Sticks to Their Buy Rating for IGO (IPGDF)
In a report released today, Hugo Nicolaci from Goldman Sachs maintained a Buy rating on IGO (IPGDF – Research Report), with a price target of A$4.40. The company's shares closed last Tuesday at $2.73. Confident Investing Starts Here: Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions Receive undervalued, market resilient stocks right to your inbox with TipRanks' Smart Value Newsletter Nicolaci covers the Basic Materials sector, focusing on stocks such as IGO, Liontown Resources Limited, and Bellevue Gold Limited. According to TipRanks, Nicolaci has an average return of 15.1% and a 64.29% success rate on recommended stocks. IGO has an analyst consensus of Hold, with a price target consensus of $2.86. The company has a one-year high of $4.96 and a one-year low of $1.99. Currently, IGO has an average volume of 1,479.
Yahoo
28-05-2025
- Business
- Yahoo
IGO pulls out of WA copper mining JV with Encounter Resources
Encounter Resources has announced the full reacquisition of the Yeneena copper-cobalt project in Western Australia, following IGO's exit from their joint venture (JV) agreement. The Yeneena project, spanning more than 1,450km², is situated in the resource-rich Paterson Province and is known for its significant copper potential. Located near established mines, Yeneena is 60km south-west of the Telfer copper-gold mine and south of the Nifty copper mine. During the six-year partnership, IGO invested approximately A$15m in exploration activities including drilling and geological surveys. Encounter Resources will now utilise the extensive dataset to determine the next steps in exploring the project. Encounter Resources executive chairman Will Robinson said: 'The return of the Yeneena Copper Project comes at a time of strong demand for Tier 1 copper opportunities. With renewed control, we are evaluating the high-quality data generated under the farm-in, with plans to advance exploration at the high-grade BM1 copper zone and targets defined at BM5. 'While Yeneena presents compelling copper upside, our West Arunta Niobium Project remains a core strategic priority, reflecting the strength and balance of Encounter's project portfolio. We thank the IGO team for their collaborative and professional contribution over the past six years.' The company's immediate focus will be on the BM1 high-grade copper oxide discovery and the BM5 copper leakage anomaly. Encounter plans to reassess the BM1 copper oxide zone using updated geological models and explore the potential for resource definition of the high-grade oxide mineralisation. Furthermore, Encounter will conduct follow-up drilling at BM5 to investigate the source of the copper-silver-palladium anomalism identified in previous aircore programmes. The insights from the accumulated data will shape future drilling campaigns and the overall exploration strategy at Yeneena. "IGO pulls out of WA copper mining JV with Encounter Resources" was originally created and published by Mining Technology, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
05-05-2025
- Business
- Yahoo
Medallion Metals, IGO amend acquisition terms for Forrestania Nickel Operation
Medallion Metals has amended the terms of agreement with IGO to acquire 100% of Forrestania Nickel Operation (FNO), including the Cosmic Boy processing facility, associated infrastructure and mineral rights, excluding nickel and lithium, in Western Australia. The companies reached an initial exclusivity agreement in August 2024. IGO will retain the exclusive right to search for, develop, and extract nickel and lithium minerals from the tenements. The new terms grant IGO a 1.5% royalty on future gold production, with Medallion assuming all rehabilitation obligations upon transaction completion. The deal is a strategic move to establish a new gold and copper producer in Western Australia's southern Goldfields, leveraging existing infrastructure and mineral resources. The transaction, subject to various conditions, includes no upfront cash consideration. The exclusivity term has been extended to August 2025, with final investment decision and transaction completion anticipated in late 2025. This deal aligns with Medallion's strategy to develop the Ravensthorpe Gold Project, with mineral processing at FNO. Combining Medallion's Ravensthorpe Gold Project resources with FNO's infrastructure offers a low-capital pathway to production. A scoping study confirms the project's technical and commercial viability, with potential for strong cashflows and returns on investment. The study highlights include an initial production inventory of 2.7 million tonnes (mt) at 3.9g/t gold and 0.6% copper and a five-and-a-half-year mine life. The project is expected to leverage gravity-flotation-CIL processing for high recovery rates and has identified opportunities for further resource conversion and mine life extension. Ongoing work includes a bankable feasibility study, project approvals, and financing arrangements. The company is also expanding its senior management team in preparation for assuming control of the assets. Medallion Metals managing director Paul Bennett said: 'Medallion welcomes the opportunity to find the optimal scenario whereby Forrestania maximises benefits accruing to all stakeholders. Bringing the established high-grade gold-copper resources at Ravensthorpe together with the Forrestania infrastructure has the potential to unlock significant value in the short term, with a substantial option on future growth. 'Additionally, prevailing market conditions favour revisiting the gold opportunity across the Forrestania tenement package with a view to returning the region to being a significant gold production district in Western Australia.' "Medallion Metals, IGO amend acquisition terms for Forrestania Nickel Operation" was originally created and published by Mining Technology, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Sign in to access your portfolio
Business Insider
05-05-2025
- Business
- Business Insider
Goldman Sachs Reaffirms Their Buy Rating on IGO (IPGDF)
In a report released on May 1, Hugo Nicolaci from Goldman Sachs maintained a Buy rating on IGO (IPGDF – Research Report), with a price target of A$4.55. The company's shares closed last Wednesday at $2.51. Protect Your Portfolio Against Market Uncertainty Discover companies with rock-solid fundamentals in TipRanks' Smart Value Newsletter. Receive undervalued stocks, resilient to market uncertainty, delivered straight to your inbox. According to TipRanks, Nicolaci is a 5-star analyst with an average return of 18.7% and a 65.82% success rate. Nicolaci covers the Basic Materials sector, focusing on stocks such as Pilbara Minerals , IGO, and Regis Resources Limited. IGO has an analyst consensus of Moderate Buy, with a price target consensus of $2.92, implying a 16.53% upside from current levels. In a report released on May 1, Citi also maintained a Buy rating on the stock with a A$4.40 price target. Based on IGO's latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $284 million and a GAAP net loss of $782.1 million. In comparison, last year the company earned a revenue of $408.6 million and had a net profit of $288.3 million
