IGO LIMITED (IGO)
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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

$5.04

17 Dec
2024

0.030

OPEN

$5.01

0.60%

HIGH

$5.12

3,059,226

LOW

$5.01

TARGET
$5.767 14.4% upside
Franking for last dividend paid out: 100%
OTHER COMPANIES IN THE SAME SECTOR
ARL . CTM . LEG . NIC . POS . QPM . SRL . WIN .
FNARENA'S MARKET CONSENSUS FORECASTS
IGO: 1
Title FY23
Actual		 FY24
Actual		 FY25
Forecast		 FY26
Forecast
EPS (cps) xxx 0.4 6.3 xxx
DPS (cps) xxx 37.0 7.3 xxx
EPS Growth xxx - 99.5% 100.0% xxx
DPS Growth xxx - 50.0% - 80.3% xxx
PE Ratio xxx N/A 80.6 xxx
Dividend Yield xxx N/A 1.4% xxx
Div Pay Ratio(%) xxx 10000.0% 116.2% xxx

Dividend yield today if purchased 3 years ago: 3.39%

DIVIDEND YIELD CALCULATOR

Dividend Yield Today On Last Actual Payout :

 7.31

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 © 2024 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

Morgan Stanley

xx/xx/xxxx

5

xxxxxxxxxxx

$xx.xx

xx.xx%

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Macquarie

xx/xx/xxxx

1

xxxxxxx xx xxxxxxxxxx xxxx xxxxxxx

$xx.xx

xx.xx%

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UBS

xx/xx/xxxx

3

xxxxxxx xx xxxxxxx xxxx xxxx

$xx.xx

xx.xx%

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Bell Potter

29/10/2024

5

Sell

$4.00

-20.63%

IGO Ltd reported "strong" 1Q25 results with a beat on both production and sales compared to Bell Potter's forecasts.

The analyst notes Kwinana will be shut down for rectification in October.

Bell Potter lowers EPS estimate by -33% in FY25 and lifts FY26 by 4% due to changes in assumptions of Kwinana refinery production and sales. 

The weak lithium prices are believed to represent the greatest challenge to IGO Ltd with potential for further share price pressure.

Sell rating and $4 target price unchanged.

FORECAST
Bell Potter forecasts a full year FY25 dividend of 7.70 cents and EPS of 6.60 cents.
Bell Potter forecasts a full year FY26 dividend of 10.40 cents and EPS of 24.50 cents.

Citi

xx/xx/xxxx

3

xxxxxxx

$xx.xx

xx.xx%

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Ord Minnett

xx/xx/xxxx

1

xxx

$xx.xx

xx.xx%

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EXTRA COVERAGE
Display All Commentary

No. Of Recommendations

3

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

Jarden

xx/xx/xxxx

1

xxx

$xx.xx

xx.xx%

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Goldman Sachs

31/10/2024

1

Buy

$6.20

23.02%

IGO’s Q1 FY25 report highlights a strong performance at Greenbushes with spodumene production of 406kt driven by higher throughput and better recovery rates, explains Goldman Sachs.

Cash costs improved to $277/t, supporting free cash flow, while realised pricing on lithium products was below the analysts' expectations due to timing and softer technical-grade demand.

No dividend from the TLEA joint venture was announced, though dividends are expected to resume next quarter.

Goldman Sachs retains a Buy rating. The target falls by -3% to $6.20. The broker points to ongoing improvements at Greenbushes and potential for enhanced output with Kwinana Train 1 adjustments.

FORECAST
Goldman Sachs forecasts a full year FY25 dividend of 5.00 cents and EPS of minus -8.00 cents.
Goldman Sachs forecasts a full year FY26 dividend of 2.00 cents and EPS of 7.00 cents.

Canaccord Genuity

xx/xx/xxxx

5

xxxx

$xx.xx

xx.xx%

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Access Extra Coverage Research History >

IGO STOCK CHART

FNArena News on IGO

1
Weekly Ratings, Targets, Forecast Changes – 13-12-24

Dec 16 2024 - Weekly Reports
2
Rudi’s View: Best Buys & Smaller Cap Favourites

Dec 12 2024 - Rudi's View
3
Material Matters: Base/Bulk Metals & Stock Picks

Dec 10 2024 - Commodities
4
Weekly Ratings, Targets, Forecast Changes – 06-12-24

Dec 09 2024 - Weekly Reports
5
Rudi’s View: In Santa We Trust (?)

Dec 05 2024 - Rudi's View

Latest Nickel News

1
Nickel Industries: Potential & Risks

May 18 2023 - Small Caps
2
Investors Remain Attached To IGO’s Lithium Story

Nov 03 2022 - Australia
3
You Go Where IGO

Mar 08 2022 - Technicals
4
Nickel Mines’ Bumper Quarter Well Received

Jan 27 2021 - Australia
5
Odysseus Holds The Key To Western Areas

Nov 02 2020 - Australia
6
Nickel Mines An Emerging Force

Oct 21 2020 - Small Caps
7
Nickel Mines Poised For Price Recovery

Jul 10 2020 - Small Caps
8
SPONSORED: Galileo, Next Fraser Range Nickel Success Story?

Mar 04 2020 - FYI
9
IGO Dependent On Exploration Success

Feb 03 2020 - Australia
10
Independence Day?

Oct 29 2019 - Technicals