IGO LIMITED (IGO)
Share Price Analysis and Chart

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IGO

IGO - IGO LIMITED

FNArena Sector : Nickel
Year End: June
GICS Industry Group : Materials
Debt/EBITDA: 1.15
Index: ASX100 | ASX200 | ASX300 | ALL-ORDS

IGO Ltd, formerly known as Independence Group, is an Australian exploration and mining company operating in Western Australia and the Northern Territory. It has been a listed company since 2002.

LAST PRICE CHANGE +/- CHANGE % VOLUME

$4.05

19 Jun
2025

-0.070

OPEN

$4.16

-1.70%

HIGH

$4.17

2,356,360

LOW

$4.03

TARGET
$4.37

0.00 change from previous day

 7.9% upside
Franking for last dividend paid out: 100%
OTHER COMPANIES IN THE SAME SECTOR
ARL . CTM . LEG . NIC . QPM . SRL . WIN .
FNARENA'S MARKET CONSENSUS FORECASTS
IGO: 1
Title FY23
Actual		 FY24
Actual		 FY25
Forecast		 FY26
Forecast
EPS (cps) xxx 0.4 - 19.2 xxx
DPS (cps) xxx 37.0 1.0 xxx
EPS Growth xxx - 99.5% N/A xxx
DPS Growth xxx - 50.0% - 97.3% xxx
PE Ratio xxx N/A N/A xxx
Dividend Yield xxx N/A 0.3% xxx
Div Pay Ratio(%) xxx 10000.0% N/A xxx

Dividend yield today if purchased 3 years ago: 3.58%

DIVIDEND YIELD CALCULATOR

Dividend Yield Today On Last Actual Payout :

 9.49

Estimated Dividend Growth
(Average Of Past Three Years)

  %

Amount Invested

 $ 

Tell Me The Dividend After This Many Years
Past performance is no guarantee for the future. Investors should take into account that heavy swings in share price or exceptional circumstances (a la 2009) can have a significant impact on short term calculations and averages

Last ex-div: 11/09 - ex-div 26c (franking 100%)

HISTORICAL DATA ARE ALL IN AUD
Copyright © 2025 FactSet UK Limited. All rights reserved
Title 201920202021202220232024
EPS Basic xxxxxxxxxxxxxxx0.4
DPS All xxxxxxxxxxxxxxx37.0
Sales/Revenue xxxxxxxxxxxxxxx796.4 M
Book Value Per Share xxxxxxxxxxxxxxx424.4
Net Operating Cash Flow xxxxxxxxxxxxxxx889.7 M
Net Profit Margin xxxxxxxxxxxxxxx0.35 %

EPS Basic

DPS All

Sales/Revenue

Book Value Per Share

Net Operating Cash Flow

Net Profit Margin

Title 201920202021202220232024
Return on Capital Employed xxxxxxxxxxxxxxx0.08 %
Return on Invested Capital xxxxxxxxxxxxxxx0.08 %
Return on Assets xxxxxxxxxxxxxxx0.07 %
Return on Equity xxxxxxxxxxxxxxx0.08 %
Return on Total Capital xxxxxxxxxxxxxxx-4.91 %
Free Cash Flow ex dividends xxxxxxxxxxxxxxx156.7 M

Return on Capital Employed

Return on Invested Capital

Return on Assets

Return on Equity

Return on Total Capital

Free Cash Flow ex dividends

Title 201920202021202220232024
Short-Term Debt xxxxxxxxxxxxxxx23 M
Long Term Debt xxxxxxxxxxxxxxx26 M
Total Debt xxxxxxxxxxxxxxx49 M
Goodwill - Gross xxxxxxxxxxxxxxx-
Cash & Equivalents - Generic xxxxxxxxxxxxxxx530 M
Price To Book Value xxxxxxxxxxxxxxx1.33

Short-Term Debt

Long Term Debt

Total Debt

Goodwill - Gross

Cash & Equivalents - Generic

Price To Book Value

Title 201920202021202220232024
Capex xxxxxxxxxxxxxxx198.9 M
Capex % of Sales xxxxxxxxxxxxxxx24.97 %
Cost of Goods Sold xxxxxxxxxxxxxxx931 M
Selling, General & Admin. Exp & Other xxxxxxxxxxxxxxx49 M
Research & Development xxxxxxxxxxxxxxx-
Investments - Total xxxxxxxxxxxxxxx2,202 M

Capex

Capex % of Sales

Cost of Goods Sold

Selling, General & Admin. Exp & Other

Research & Development

Investments - Total

EXPERT VIEWS
Display All Commentary

Sentiment Indicator

0.0

No. Of Recommendations

6
BROKER DATE RATING RECOMMENDATION TARGET PRICE % TO REACH TARGET COMMENTARY

Citi

xx/xx/xxxx

3

xxxxxxxxx xx xxxxxxx xxxx xxx

-

xx.xx%

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UBS

xx/xx/xxxx

5

xxxxxxxxx xx xxxx xxxx xxxxxxx

$xx.xx

xx.xx%

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Macquarie

xx/xx/xxxx

1

xxxxxxxxxx

$xx.xx

xx.xx%

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Bell Potter

01/05/2025

5

Sell

$3.25

-19.75%

Bell Potter considers IGO Ltd's 3Q25 report to be largely in line with expectations, with realised spodumene concentrate price higher than its expectation, but nickel price falling short. The company reiterated the FY25 production cost guidance.

The broker pushed back the forecast for first spodumene production from CGP3 by a quarter to 4Q2025 in line with the update. The forecast for Nova Nickel mine was reduced to match the company's update.

The key revision to forecasts was due to a downgrade to the lithium price outlook on the broker's updated outlook for a supply deficit to emerge in 2030 from 2027 expected before.

Sell. Target cut to $3.25 from $3.85.

FORECAST
Bell Potter forecasts a full year FY25 dividend of 0.00 cents and EPS of minus -9.90 cents.
Bell Potter forecasts a full year FY26 dividend of 10.60 cents and EPS of 16.10 cents.

Morgan Stanley

xx/xx/xxxx

3

xxxxx-xxxxxx

$xx.xx

xx.xx%

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Ord Minnett

xx/xx/xxxx

1

xxx

$xx.xx

xx.xx%

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Access Stockbroker Research History >
EXTRA COVERAGE
Display All Commentary

No. Of Recommendations

2

Please note: unlike Broker Call Report, BC Extra is not updated daily. The info you see might not be the latest. FNArena does its best to update ASAP.

BROKER DATE RATING RECOMMENDATION TARGET PRICE % TO REACH TARGET COMMENTARY

Canaccord Genuity

xx/xx/xxxx

3

xxxx

$xx.xx

xx.xx%

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Jarden

05/05/2025

1

Buy

$5.34

31.85%

The highlight of IGO Ltd's 3Q25 update was news the end of life for Nova mine was targeted for the end of 2026, 18 months ahead of Jarden's forecast.

The broker revised forecasts to incorporate -$20m closure liability plus other write-downs, resulting in a cut to FY25-26 EBITDA forecasts. 

Additional downward impact to the EBITDA forecast came from a reduction of around -US$100/t in SC6 price forecast in the short to medium term.

Apart from these adjustments, the 3Q25 was considered positive in terms of costs and capex outlook, though production was -6% lower than the broker's estimate.

Buy. Target price $5.34.

FORECAST
Jarden forecasts a full year FY25 dividend of 0.00 cents and EPS of minus -9.80 cents.
Jarden forecasts a full year FY26 dividend of 0.00 cents and EPS of minus -35.40 cents.
Access Extra Coverage Research History >

IGO STOCK CHART

FNArena News on IGO

Latest Nickel News

1
You Go Where IGO

Mar 08 2022 - Technicals
2
Nickel Mines’ Bumper Quarter Well Received

Jan 27 2021 - Australia
3
Odysseus Holds The Key To Western Areas

Nov 02 2020 - Australia
4
Nickel Mines An Emerging Force

Oct 21 2020 - Small Caps
5
Nickel Mines Poised For Price Recovery

Jul 10 2020 - Small Caps
6
SPONSORED: Galileo, Next Fraser Range Nickel Success Story?

Mar 04 2020 - FYI
7
IGO Dependent On Exploration Success

Feb 03 2020 - Australia
8
Independence Day?

Oct 29 2019 - Technicals
9
Cash Flowing For Western Areas

Jul 23 2019 - Australia
10
Nickel Takes The Limelight, But Will It Last?

Jul 19 2019 - Commodities