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: -1.25
Index: ASX100 | ASX200 | ASX300 | ALL-ORDS

IGO is an Australian resources company focused on metals for clean energy, with the Nova nickel-copper-cobalt operation and lithium interests through its Tianqi Lithium Energy Australia joint venture.

LAST PRICE CHANGE +/- CHANGE % VOLUME

$6.88

16 Jul
2026

-0.120

OPEN

$6.96

-1.71%

HIGH

$6.98

2,010,561

LOW

$6.77

TARGET
$9.08 32.0% 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 FY24
Actual		 FY25
Actual		 FY26
Forecast		 FY27
Forecast
EPS (cps) xxx - 126.1 14.0 xxx
DPS (cps) xxx 0.0 1.5 xxx
EPS Growth xxx N/A N/A xxx
DPS Growth xxx N/A N/A xxx
PE Ratio xxx N/A 47.4 xxx
Dividend Yield xxx N/A 0.2% xxx
Div Pay Ratio(%) xxx N/A 10.7% xxx

Dividend yield today if purchased 3 years ago: 0.00%

DIVIDEND YIELD CALCULATOR

Dividend Yield Today On Last Actual Payout :

 0.00

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 © 2026 FactSet UK Limited. All rights reserved
Title 202020212022202320242025
EPS Basic xxxxxxxxxxxxxxx-126.1
DPS All xxxxxxxxxxxxxxx0.0
Sales/Revenue xxxxxxxxxxxxxxx499.9 M
Book Value Per Share xxxxxxxxxxxxxxx276.8
Net Operating Cash Flow xxxxxxxxxxxxxxx37.9 M
Net Profit Margin xxxxxxxxxxxxxxx-190.96 %

EPS Basic

DPS All

Sales/Revenue

Book Value Per Share

Net Operating Cash Flow

Net Profit Margin

Title 202020212022202320242025
Return on Capital Employed xxxxxxxxxxxxxxx-36.01 %
Return on Invested Capital xxxxxxxxxxxxxxx-35.76 %
Return on Assets xxxxxxxxxxxxxxx-32.23 %
Return on Equity xxxxxxxxxxxxxxx-36.01 %
Return on Total Capital xxxxxxxxxxxxxxx-9.50 %
Free Cash Flow ex dividends xxxxxxxxxxxxxxx-164.2 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 202020212022202320242025
Short-Term Debt xxxxxxxxxxxxxxx21 M
Long Term Debt xxxxxxxxxxxxxxx11 M
Total Debt xxxxxxxxxxxxxxx31 M
Goodwill - Gross xxxxxxxxxxxxxxx-
Cash & Equivalents - Generic xxxxxxxxxxxxxxx344 M
Price To Book Value xxxxxxxxxxxxxxx1.51

Short-Term Debt

Long Term Debt

Total Debt

Goodwill - Gross

Cash & Equivalents - Generic

Price To Book Value

Title 202020212022202320242025
Capex xxxxxxxxxxxxxxx5.3 M
Capex % of Sales xxxxxxxxxxxxxxx1.06 %
Cost of Goods Sold xxxxxxxxxxxxxxx676 M
Selling, General & Admin. Exp & Other xxxxxxxxxxxxxxx79 M
Research & Development xxxxxxxxxxxxxxx-
Investments - Total xxxxxxxxxxxxxxx1,599 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

0.6

No. Of Recommendations

5
BROKER DATE RATING RECOMMENDATION TARGET PRICE % TO REACH TARGET COMMENTARY

Macquarie

xx/xx/xxxx

1

xxxxxxxxxx

$xx.xx

xx.xx%

Broker commentary and detailed analysis is available for Full Members Only.
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UBS

xx/xx/xxxx

1

xxx

$xx.xx

xx.xx%

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Morgan Stanley

09/07/2026

3

Upgrade to Equal-weight from Underweight

$6.95

1.02%

Morgan Stanley observes recent weakness in the materials sector stems from profit-taking after a run of 18 months and this creates a "pullback opportunity" to rotate into commodities that have strong demand fundamentals, such as in uranium and copper.

IGO Ltd is upgraded to Equal-weight from Underweight as it is now trading in line with valuation. The broker notes since April the stock is down -11%, and whilst suspended supply is returning, tightness should still support lithium in the current quarter.

Target is raised to $6.95 from $6.85. Industry View: Attractive.

FORECAST
Morgan Stanley forecasts a full year FY26 dividend of 5.00 cents and EPS of 18.50 cents.
Morgan Stanley forecasts a full year FY27 dividend of 24.00 cents and EPS of 61.20 cents.

Ord Minnett

xx/xx/xxxx

1

xxxxxxx xx xxx xxxx xxxxxxxxxx

$xx.xx

xx.xx%

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Citi

xx/xx/xxxx

3

xxxxxxx

$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

1

xxx

$xx.xx

xx.xx%

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Jarden

29/04/2026

3

Neutral

$5.30

-22.97%

Jarden maintains a Neutral rating for IGO Ltd and lowers its target price to $5.30 from $5.50 following a disappointing March quarter update.

Operations at the core Greenbushes joint venture missed production expectations by a wide margin, hindered by declining mined lithium grades, lower recoveries, and increased maintenance downtime.

Management consequently downgraded full-year production guidance by -11% while significantly raising unit cash cost estimates.

Near-term earnings forecasts have been reduced as well as the overarching valuation to reflect these prolonged operational headwinds and a slower ramp-up profile at the new CGP3 processing facility.

Despite the underlying asset quality and a supportive spot pricing environment, the broker awaits tangible evidence of stabilising operational momentum before adopting a more constructive stance.

FORECAST
Jarden forecasts a full year FY26 dividend of 4.20 cents and EPS of 10.60 cents.
Jarden forecasts a full year FY27 dividend of 2.10 cents and EPS of 25.20 cents.
Access Extra Coverage Research History >

IGO STOCK CHART

FNArena News on IGO

1
ESG Focus: War Accelerates Energy Transition

Jul 15 2026 - ESG Focus
2
Weekly Ratings, Targets, Forecast Changes – 10-07-26

Jul 13 2026 - Weekly Reports
3
Rudi’s View: July’s Stock Pickers’ Favourites

Jul 09 2026 - Rudi's View
4
FY26 In Review: Up Thanks To Miners & Dividends

Jul 07 2026 - Australia
5
Weekly Ratings, Targets, Forecast Changes – 03-07-26

Jul 06 2026 - Weekly Reports

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