IGO LIMITED (IGO)
Share Price Analysis and Chart

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IGO - IGO LIMITED

FNArena Sector : Nickel
Year End: June
GICS Industry Group : Materials
Debt/EBITDA: 2
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

$14.25

26 May
2023

0.050

OPEN

$14.28

0.35%

HIGH

$14.44

1,914,367

LOW

$14.22

TARGET
$16.01 12.4% upside
Franking for last dividend paid out: 100%
OTHER COMPANIES IN THE SAME SECTOR
ARL . CLQ . CTM . HIG . LEG . MCR . NIC . PAN . POS . QPM . SRL . WSA .
FNARENA'S MARKET CONSENSUS FORECASTS
IGO: 1
Title FY21
Actual		 FY22
Actual		 FY23
Forecast		 FY24
Forecast
EPS (cps) xxx 43.7 150.4 xxx
DPS (cps) xxx 10.0 34.0 xxx
EPS Growth xxx 81.0% 100.0% xxx
DPS Growth xxx 0.0% 100.0% xxx
PE Ratio xxx N/A 9.5 xxx
Dividend Yield xxx N/A 2.4% xxx
Div Pay Ratio(%) xxx 22.9% 22.6% xxx

Dividend yield today if purchased 3 years ago: 1.99%

DIVIDEND YIELD CALCULATOR

Dividend Yield Today On Last Actual Payout :

 0.70

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: 16/03 - ex-div 14c (franking 100%)

HISTORICAL DATA ARE ALL IN AUD
Copyright © 2023 FactSet UK Limited. All rights reserved
Title 201720182019202020212022
EPS Basic xxxxxxxxxxxxxxx43.7
DPS All xxxxxxxxxxxxxxx10.0
Sales/Revenue xxxxxxxxxxxxxxx845.2 M
Book Value Per Share xxxxxxxxxxxxxxx453.8
Net Operating Cash Flow xxxxxxxxxxxxxxx388.4 M
Net Profit Margin xxxxxxxxxxxxxxx39.15 %

EPS Basic

DPS All

Sales/Revenue

Book Value Per Share

Net Operating Cash Flow

Net Profit Margin

Title 201720182019202020212022
Return on Capital Employed xxxxxxxxxxxxxxx9.97 %
Return on Invested Capital xxxxxxxxxxxxxxx8.94 %
Return on Assets xxxxxxxxxxxxxxx7.83 %
Return on Equity xxxxxxxxxxxxxxx9.97 %
Return on Total Capital xxxxxxxxxxxxxxx7.82 %
Free Cash Flow ex dividends xxxxxxxxxxxxxxx237.4 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 201720182019202020212022
Short-Term Debt xxxxxxxxxxxxxxx197 M
Long Term Debt xxxxxxxxxxxxxxx751 M
Total Debt xxxxxxxxxxxxxxx947 M
Goodwill - Gross xxxxxxxxxxxxxxx-
Cash & Equivalents - Generic xxxxxxxxxxxxxxx494 M
Price To Book Value xxxxxxxxxxxxxxx2.19

Short-Term Debt

Long Term Debt

Total Debt

Goodwill - Gross

Cash & Equivalents - Generic

Price To Book Value

Title 201720182019202020212022
Capex xxxxxxxxxxxxxxx88.1 M
Capex % of Sales xxxxxxxxxxxxxxx10.42 %
Cost of Goods Sold xxxxxxxxxxxxxxx518 M
Selling, General & Admin. Exp & Other xxxxxxxxxxxxxxx30 M
Research & Development xxxxxxxxxxxxxxx-
Investments - Total xxxxxxxxxxxxxxx2,076 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

0.3

No. Of Recommendations

5
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

xxxxxxxxxx

$xx.xx

xx.xx%

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Citi

01/05/2023

1

Buy

$16.80

17.89%

Greenbushes proved the highlight of IGO's March Q, Citi notes, benefiting from the lagged pricing mechanism to deliver an earnings margin of 90% on record quarterly earnings. IGO notes the lithium market is volatile but doesn’t expect any issues selling spodumene.

Kwinana running at 81- 85% battery grade conversion and is now about ramping up rather than quality, the broker suggests.

The not so good news is an expected impairment of the $1.26bn Western Areas assets and likely capex overruns.

Target falls to $16.80 from $17.10. Citi retains Buy, noting IGO is a unique mix of battery metals exposure which trades at a discount to the broker's net asset valuation.

FORECAST
Citi forecasts a full year FY23 dividend of 26.00 cents and EPS of 176.00 cents.
Citi forecasts a full year FY24 dividend of 35.00 cents and EPS of 189.00 cents.

UBS

xx/xx/xxxx

1

xxx

$xx.xx

xx.xx%

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Ord Minnett

xx/xx/xxxx

4

xxxxxxx

$xx.xx

xx.xx%

Broker commentary and detailed analysis is available for Full Members Only.
Login above or Get a Free Trial
Access Stockbroker Research History >

IGO STOCK CHART

FNArena News on IGO

1
Australian Broker Call *Extra* Edition – May 10, 2023

May 10 2023 - Daily Market Reports
2
Australian Broker Call *Extra* Edition – May 08, 2023

May 08 2023 - Daily Market Reports
3
Australian Broker Call *Extra* Edition – Apr 27, 2023

Apr 27 2023 - Daily Market Reports
4
Material Matters: Lithium, Coal & Zinc

Apr 19 2023 - Commodities
5
Australian Broker Call *Extra* Edition – Apr 19, 2023

Apr 19 2023 - Daily Market 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