Live News • 9h
IGO Shares Fall 3% as Greenbushes Cuts Guidance and Lithium Costs Rise IGO shares fell nearly 3% as battery materials volatility weighed on the broader ASX mining sector.
The company reduced FY26 production guidance for its Greenbushes lithium operation and raised unit cash cost guidance, citing operational challenges.
Nova nickel-copper operations delivered solid production and free cash flow, partly offsetting pressure from lithium.
The mix of lower guided lithium output and higher expected unit costs puts more pressure on Greenbushes just as sentiment across battery materials stocks is already under strain.
At the same time, the steady contribution from Nova highlights the importance of IGO’s asset diversity, and you may want to watch how management prioritises capital and operating decisions between lithium and nickel-copper if volatility in battery materials continues. Buy Or Sell Opportunity • Apr 24
Now 30% undervalued after recent price drop Over the last 90 days, the stock has fallen 25% to AU$7.01. The fair value is estimated to be AU$10.03, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 29% over the last 3 years. Meanwhile, the company became loss making. Announcement • Apr 17
IGO Limited to Report Q3, 2026 Results on Apr 24, 2026 IGO Limited announced that they will report Q3, 2026 results on Apr 24, 2026 Announcement • Mar 03
Medallion Metals Limited (ASX:MM8) acquired Forrestania Nickel Operation from IGO Limited (ASX:IGO). Medallion Metals Limited (ASX:MM8) entered into a binding Asset Sale Agreement to acquire Forrestania Nickel Operation from IGO Limited (ASX:IGO) on August 4, 2025. As consideration for the purchase of Forrestania Nickel Operation, Medallion Metals Limited will grant to IGO Limited a 1.5% Net Smelter Return Royalty on any gold produced. If the agreement is terminated before completion for reasons other than IGO Limited's default, Medallion Metals Limited must pay IGO Limited a Break Fee that accrues over time, calculated as 50% of Direct Project Costs for the first four months after the Agreement's execution and 100% thereafter until termination
The transaction is subject to approval by regulatory board / committee, approval of offer by acquirer board, obtaining financing and third party approval needed. The expected completion of the transaction is late 2025. As per the announcement dated December 10, 2025 the transaction is expected to close on February 20, 2025. Medallion Metals is pleased to announce it has selected Trafigura Pte Ltd (“Trafigura”) to exclusively arrange and provide a prepayment facility and copper concentrate and gold dore purchase agreements for the proposed development of the Ravensthorpe Gold Project (“RGP”) and processing operations at Forrestania. Subject to the satisfaction of relevant conditions precedent including technical, financial and legal due diligence and relevant approvals, the proposed Facility is for up to AUD 77 million with a four-year term commencing from initial disbursement, including a one-year grace period followed by a three-year repayment period. Development activities will commence following confirmation that all conditions precedent to the completion of the Forrestania acquisition1 (Transaction) have been waived or satisfied, at which time the Transaction will proceed to completion. Confirmation that the Transaction conditions precedent have been satisfied or waived is expected on or before February 20, 2026, with completion expected to occur on or before February 27, 2026. As of February 27, 2026 all conditions precedent to the acquisition of the Forrestania Nickel Operation from IGO Limited pursuant to the conditional binding Asset Sale Agreement have been satisfied or waived. The Transaction will now progress to completion with handover targeted to occur today at 5pm Friday 27 February 2026.
Medallion Metals Limited (ASX:MM8) completed the acquisition of Forrestania Nickel Operation from IGO Limited (ASX:IGO) on March 2, 2026. Reported Earnings • Feb 20
First half 2026 earnings released: AU$0.045 loss per share (vs AU$1.03 loss in 1H 2025) First half 2026 results: AU$0.045 loss per share (improved from AU$1.03 loss in 1H 2025). Revenue: AU$194.1m (down 32% from 1H 2025). Net loss: AU$34.1m (loss narrowed 96% from 1H 2025). Revenue is expected to decline by 89% p.a. on average during the next 3 years, while revenues in the Metals and Mining industry in Australia are expected to grow by 6.7%. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 88 percentage points per year, which is a significant difference in performance. Announcement • Feb 11
IGO Limited to Report First Half, 2026 Results on Feb 19, 2026 IGO Limited announced that they will report first half, 2026 results on Feb 19, 2026 Announcement • Feb 06
Rumble Resources Limited (ASX:RTR) completed the acquisition of remaining 70% stake in E28/2528, E28/2595, and E28/2529 from IGO Limited (ASX:IGO). Rumble Resources Limited (ASX:RTR) agreed to acquire remaining 70% stake in E28/2528, E28/2595, and E28/2529 from IGO Limited (ASX:IGO) for AUD 0.3 million on April 7, 2025. The consideration consists of common equity of Rumble Resources Limited having a value of AUD 0.3 million to be issued for assets of E28/2528, E28/2595, and E28/2529. Upon completion, Rumble Resources Limited will own 100% stake in E28/2528, E28/2595, and E28/2529.
Rumble Resources Limited (ASX:RTR) completed the acquisition of remaining 70% stake in E28/2528, E28/2595, and E28/2529 from IGO Limited (ASX:IGO) on February 6, 2026. Buy Or Sell Opportunity • Jan 16
Now 20% undervalued Over the last 90 days, the stock has risen 67% to AU$8.88. The fair value is estimated to be AU$11.12, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 18% over the last 3 years. Meanwhile, the company became loss making. Revenue is forecast to decline by 22% in a year. Earnings are forecast to grow by 94% in the next year. Price Target Changed • Jan 13
Price target increased by 7.3% to AU$6.80 Up from AU$6.34, the current price target is an average from 14 analysts. New target price is 26% below last closing price of AU$9.15. Stock is up 84% over the past year. The company is forecast to post a net loss per share of AU$0.081 next year compared to a net loss per share of AU$1.26 last year. Major Estimate Revision • Jan 08
Consensus EPS estimates upgraded to AU$0.081 loss The consensus outlook for fiscal year 2026 has been updated. 2026 losses forecast to reduce from -AU$0.093 to -AU$0.081 per share. Revenue forecast steady at AU$415.9m. Metals and Mining industry in Australia expected to see average net income growth of 23% next year. Consensus price target up from AU$6.34 to AU$6.55. Share price rose 6.7% to AU$8.75 over the past week. Announcement • Dec 22
IGO Limited to Report Q2, 2026 Results on Jan 29, 2026 IGO Limited announced that they will report Q2, 2026 results on Jan 29, 2026 Major Estimate Revision • Dec 13
Consensus EPS estimates fall by 47% The consensus outlook for fiscal year 2026 has been updated. 2026 expected loss increased from -AU$0.04 to -AU$0.059 per share. Revenue forecast unchanged at AU$409.7m. Metals and Mining industry in Australia expected to see average net income growth of 24% next year. Consensus price target up from AU$5.51 to AU$5.99. Share price rose 2.7% to AU$7.12 over the past week. Price Target Changed • Dec 10
Price target increased by 7.7% to AU$5.94 Up from AU$5.51, the current price target is an average from 14 analysts. New target price is 16% below last closing price of AU$7.10. Stock is up 40% over the past year. The company is forecast to post a net loss per share of AU$0.059 next year compared to a net loss per share of AU$1.26 last year. Major Estimate Revision • Dec 09
Consensus EPS estimates fall by 47% The consensus outlook for fiscal year 2026 has been updated. 2026 expected loss increased from -AU$0.04 to -AU$0.059 per share. Revenue forecast unchanged at AU$409.3m. Metals and Mining industry in Australia expected to see average net income growth of 27% next year. Consensus price target up from AU$5.51 to AU$5.87. Share price rose 6.3% to AU$7.05 over the past week. Announcement • Dec 03
IGO Limited Announces CFO Changes, Effective 1 April 2026 IGO Limited announced that it appointed Johan van Vuuren as Chief Financial Officer of the Company, effective April 1, 2026. van Vuuren replaces Ms Kathleen Bozanic as Chief Financial Officer and will report to Ivan Vella, Managing Director and Chief Executive Officer. Most recently, van Vuuren held the role of Senior Vice President Corporate Development for Maaden in Saudi Arabia and served on the Board of Meridian and the Executive Committee of Manara Minerals. In addition to his extensive experience in mining, van Vuuren has worked in a range of other industries including energy, petrochemicals, manufacturing, aviation, renewable energy and waste management. van Vuuren will commence with the Company on April 1, 2026, following the end of his tenure with Maaden. Bozanic has agreed to extend her tenure with the Company to ensure an orderly handover can occur. Price Target Changed • Nov 19
Price target increased by 8.9% to AU$5.42 Up from AU$4.98, the current price target is an average from 14 analysts. New target price is 18% below last closing price of AU$6.65. Stock is up 34% over the past year. The company is forecast to post a net loss per share of AU$0.028 next year compared to a net loss per share of AU$1.26 last year. Major Estimate Revision • Oct 30
Consensus EPS estimates increase from loss to AU$0.0008 profit The consensus outlook for fiscal year 2026 has been updated. 2026 forecast for profit of -AU$0.0004 instead of a loss of AU$0.0008 per share previously. Revenue forecast unchanged at AU$409.7m. Metals and Mining industry in Australia expected to see average net income growth of 25% next year. Consensus price target up from AU$4.98 to AU$5.08. Share price rose 2.6% to AU$5.53 over the past week. Announcement • Oct 28
IGO Limited to Report Q1, 2026 Results on Oct 30, 2025 IGO Limited announced that they will report Q1, 2026 results Pre-Market on Oct 30, 2025 Major Estimate Revision • Oct 21
Consensus EPS estimates upgraded to AU$0.0004 loss The consensus outlook for fiscal year 2026 has been updated. 2026 losses forecast to reduce from -AU$0.0019 to -AU$0.0004 per share. Revenue forecast steady at AU$409.7m. Metals and Mining industry in Australia expected to see average net income growth of 25% next year. Consensus price target broadly unchanged at AU$4.98. Share price was steady at AU$5.28 over the past week. Major Estimate Revision • Sep 26
Consensus EPS estimates fall by 242% The consensus outlook for fiscal year 2026 has been updated. 2026 expected loss increased from -AU$0.0038 to -AU$0.013 per share. Revenue forecast unchanged at AU$410.1m. Metals and Mining industry in Australia expected to see average net income growth of 18% next year. Consensus price target broadly unchanged at AU$4.80. Share price rose 4.9% to AU$5.11 over the past week. Major Estimate Revision • Sep 13
Consensus EPS estimates fall from profit to AU$0.0027 loss The consensus outlook for fiscal year 2026 has been updated. Expected to report loss instead of -AU$0.0027 instead of AU$0.0021 per share profit previously forecast. Revenue forecast unchanged at AU$413.5m Metals and Mining industry in Australia expected to see average net income growth of 17% next year. Consensus price target broadly unchanged at AU$4.82. Share price fell 11% to AU$4.34 over the past week. Announcement • Sep 09
IGO Limited, Annual General Meeting, Nov 19, 2025 IGO Limited, Annual General Meeting, Nov 19, 2025. Reported Earnings • Aug 28
Full year 2025 earnings released: AU$1.26 loss per share (vs AU$0.004 profit in FY 2024) Full year 2025 results: AU$1.26 loss per share (down from AU$0.004 profit in FY 2024). Revenue: AU$528.9m (down 37% from FY 2024). Net loss: AU$954.6m (down AU$957.4m from profit in FY 2024). Revenue is expected to decline by 89% p.a. on average during the next 3 years, while revenues in the Metals and Mining industry in Australia are expected to grow by 5.4%. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 84 percentage points per year, which is a significant difference in performance. Major Estimate Revision • Jul 31
Consensus estimates of losses per share improve by 18% The consensus outlook for earnings per share (EPS) in fiscal year 2025 has improved. 2025 revenue forecast increased from AU$499.5m to AU$512.2m. EPS estimate increased from -AU$1.06 per share to -AU$0.867 per share. Metals and Mining industry in Australia expected to see average net income growth of 16% next year. Consensus price target broadly unchanged at AU$4.55. Share price fell 17% to AU$4.43 over the past week. Announcement • Jun 26
IGO Limited Announces Appointment of Suzanne (Suzy) Retallack as Chief People and Sustainability Officer, Effective 15 September 2025 IGO Limited announced appointment of Suzanne (Suzy) Retallack as Chief People and Sustainability Officer, effective 15 September 2025. Suzy was most recently Chief Safety & Sustainability Officer for Newmont Corporation, where she was also responsible for Corporate Affairs for Newmont Australia. Suzy has global experience in mining, working across a range of functions including Health and Wellbeing, Safety, Environment, Security, Sustainability at Newmont and Rio Tinto. Suzy holds a Bachelor of Science in Psychology from the University of Western Australia, a Bachelor of Science in Occupational Therapy and a Master of Business Administration from Curtin University. Major Estimate Revision • May 01
Consensus EPS estimates fall by 28% The consensus outlook for fiscal year 2025 has been updated. 2025 expected loss increased from -AU$0.798 to -AU$1.03 per share. Revenue forecast unchanged at AU$500.6m. Metals and Mining industry in Australia expected to see average net income growth of 29% next year. Consensus price target broadly unchanged at AU$4.81. Share price rose 6.3% to AU$3.87 over the past week. Reported Earnings • Feb 20
First half 2025 earnings released: AU$1.03 loss per share (vs AU$0.38 profit in 1H 2024) First half 2025 results: AU$1.03 loss per share (down from AU$0.38 profit in 1H 2024). Revenue: AU$284.8m (down 35% from 1H 2024). Net loss: AU$782.1m (down 371% from profit in 1H 2024). Revenue is expected to decline by 58% p.a. on average during the next 3 years, while revenues in the Metals and Mining industry in Australia are expected to grow by 4.2%. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 53 percentage points per year, which is a significant difference in performance. New Risk • Feb 20
New major risk - Dividend sustainability The dividend is not well covered by earnings and cash flows. The company is paying a dividend despite being loss-making. Cash payout ratio: 99% Dividend yield: 8.0% This is considered a major risk. Companies that pay out too much of their earnings and cash flows are at risk of having to reduce or cut their dividend in future. If earnings or cash flows stagnate or fall, then there may not be enough to maintain the same dividend. Or in extreme cases, companies may opt to dig into capital reserves or take on debt to maintain the dividend. For dividend paying companies, any reduction in the dividend can significantly impact the share price. This is currently the only risk that has been identified for the company. Major Estimate Revision • Feb 17
Consensus estimates of losses per share improve by 15% The consensus outlook for earnings per share (EPS) in fiscal year 2025 has improved. 2025 revenue forecast increased from AU$478.9m to AU$487.3m. EPS estimate increased from -AU$0.189 per share to -AU$0.16 per share. Metals and Mining industry in Australia expected to see average net income growth of 24% next year. Consensus price target broadly unchanged at AU$5.41. Share price was steady at AU$4.82 over the past week. Major Estimate Revision • Jan 30
Consensus EPS estimates fall from profit to AU$0.064 loss The consensus outlook for fiscal year 2025 has been updated. Expected to report loss instead of -AU$0.064 instead of AU$0.113 per share profit previously forecast. Revenue forecast unchanged at AU$477.1m Metals and Mining industry in Australia expected to see average net income growth of 18% next year. Consensus price target down from AU$5.67 to AU$5.48. Share price fell 2.9% to AU$5.06 over the past week. Major Estimate Revision • Jan 25
Consensus EPS estimates fall by 11% The consensus outlook for fiscal year 2025 has been updated. 2025 EPS estimate fell from AU$0.113 to AU$0.101 per share. Revenue forecast steady at AU$475.1m. Net income forecast to grow 3,109% next year vs 17% growth forecast for Metals and Mining industry in Australia. Consensus price target broadly unchanged at AU$5.70. Share price was steady at AU$5.25 over the past week. Major Estimate Revision • Jan 20
Consensus EPS estimates fall by 16% The consensus outlook for fiscal year 2025 has been updated. 2025 EPS estimate fell from AU$0.134 to AU$0.113 per share. Revenue forecast steady at AU$479.2m. Net income forecast to grow 2,919% next year vs 19% growth forecast for Metals and Mining industry in Australia. Consensus price target broadly unchanged at AU$5.71. Share price rose 9.9% to AU$5.46 over the past week. Major Estimate Revision • Jan 15
Consensus EPS estimates fall by 15% The consensus outlook for fiscal year 2025 has been updated. 2025 EPS estimate fell from AU$0.134 to AU$0.114 per share. Revenue forecast steady at AU$480.6m. Net income forecast to grow 2,931% next year vs 19% growth forecast for Metals and Mining industry in Australia. Consensus price target broadly unchanged at AU$5.71. Share price was steady at AU$4.98 over the past week. Announcement • Jan 01
IGO Limited to Report Fiscal Year 2025 Results on Aug 28, 2025 IGO Limited announced that they will report fiscal year 2025 results on Aug 28, 2025 Announcement • Nov 29
Medallion Metals Limited (ASX:MM8) acquired certain assets of the Forrestania Nickel Operation by IGO Limited from IGO Limited (ASX:IGO) for AUD 15 million. Medallion Metals Limited (ASX:MM8) signed a letter of intent to acquire certain assets of the Forrestania Nickel Operation by IGO Limited from IGO Limited (ASX:IGO) for AUD 15 million on August 8, 2024. A cash consideration of AUD 15 million will be paid by Medallion Metals Limited. As part of consideration, AUD 15 million is paid towards assets of certain assets of the Forrestania Nickel Operation by IGO Limited.
The transaction is subject to consummation of due diligence investigation.
Medallion Metals Limited (ASX:MM8) completed the acquisition of certain assets of the Forrestania Nickel Operation by IGO Limited from IGO Limited (ASX:IGO) on November 28, 2024. Major Estimate Revision • Oct 29
Consensus EPS estimates fall by 33% The consensus outlook for earnings per share (EPS) in fiscal year 2025 has deteriorated. 2025 revenue forecast decreased from AU$504.4m to AU$477.4m. EPS estimate also fell from AU$0.198 per share to AU$0.133 per share. Net income forecast to grow 2,812% next year vs 29% growth forecast for Metals and Mining industry in Australia. Consensus price target down from AU$5.99 to AU$5.85. Share price rose 2.7% to AU$5.40 over the past week. Major Estimate Revision • Oct 02
Consensus EPS estimates fall by 10% The consensus outlook for fiscal year 2025 has been updated. 2025 EPS estimate fell from AU$0.232 to AU$0.209 per share. Revenue forecast steady at AU$511.8m. Net income forecast to grow 5,428% next year vs 22% growth forecast for Metals and Mining industry in Australia. Consensus price target broadly unchanged at AU$6.11. Share price rose 9.1% to AU$5.75 over the past week. Major Estimate Revision • Sep 04
Consensus EPS estimates fall by 22% The consensus outlook for earnings per share (EPS) in fiscal year 2025 has deteriorated. 2025 revenue forecast decreased from AU$549.5m to AU$516.5m. EPS estimate also fell from AU$0.29 per share to AU$0.226 per share. Net income forecast to grow 5,353% next year vs 26% growth forecast for Metals and Mining industry in Australia. Consensus price target down from AU$6.31 to AU$6.17. Share price fell 2.8% to AU$5.16 over the past week. Declared Dividend • Aug 31
Final dividend of AU$0.26 announced Shareholders will receive a dividend of AU$0.26. Ex-date: 11th September 2024 Payment date: 26th September 2024 Dividend yield will be 6.7%, which is higher than the industry average of 5.1%. Sustainability & Growth Dividend is not covered by earnings (dividend approximately 100x earnings). However, it is well covered by cash flows (42% cash payout ratio). The dividend has increased by an average of 20% per year over the past 10 years. However, payments have been volatile during that time. The company's earnings per share (EPS) would need to grow by 11,020% to bring the payout ratio under control. EPS is expected to grow by 158% over the next 3 years, which means the dividend may need to be reduced to reach a sustainable payout ratio. Reported Earnings • Aug 29
Full year 2024 earnings released: EPS: AU$0.004 (vs AU$0.72 in FY 2023) Full year 2024 results: EPS: AU$0.004 (down from AU$0.72 in FY 2023). Revenue: AU$860.2m (down 16% from FY 2023). Net income: AU$2.80m (down 100% from FY 2023). Profit margin: 0.3% (down from 54% in FY 2023). Revenue is expected to decline by 38% p.a. on average during the next 3 years, while revenues in the Metals and Mining industry in Australia are expected to grow by 1.7%. Over the last 3 years on average, earnings per share has increased by 1% per year but the company’s share price has fallen by 18% per year, which means it is significantly lagging earnings. Announcement • Aug 29
IGO Limited Announces Resignation of Kathryn Barker as Joint Company Secretary IGO Limited announced that Ms. Kathryn (Kate) Barker has resigned as Joint Company Secretary, effective 30 August 2024. Announcement • Aug 13
Albemarle Reportedly May Look to Offload 49% Stake in Greenbushes Lithium Mine to IGO Speculation is mounting that US-based Albemarle Corporation (NYSE:ALB) may be considering selling down its 49% stake in the Greenbushes lithium mine to its Australian-listed partner IGO Limited (ASX:IGO), after the world's largest lithium producer this month slashed jobs and shut part of a processing facility in Western Australia. Greenbushes in WA is a global standout, and there is scepticism about the market chatter, although IGO wants to buy more of the asset should it be available, say sources. IGO did not comment. One reason a sale may be on the table is that Greenbushes does not qualify for the Inflation Reduction Act benefits in the US because of its partial Chinese ownership of 25.1%. To quality, Chinese ownership would need to be 24.9% or less, although the US government may show some leniency. IGO and China's Tianqi both own 51% in a joint venture arrangement. US-based lithium specialist Albemarle owns the remainder. The Australian reported last month that Albemarle, Tianqi and IGO would be taking the brakes off the giant Greenbushes mine despite low lithium prices, with the mine set to lift production over the next year as IGO intensifies its hunt for growth opportunities. Board Change • Aug 01
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Independent Non-Executive Director Marcelo de Almeida Bastos was the last director to join the board, commencing their role in 2024. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Price Target Changed • Jul 31
Price target decreased by 7.9% to AU$6.37 Down from AU$6.92, the current price target is an average from 16 analysts. New target price is 15% above last closing price of AU$5.55. Stock is down 60% over the past year. The company is forecast to post earnings per share of AU$0.44 for next year compared to AU$0.73 last year. Major Estimate Revision • Jul 31
Consensus revenue estimates decrease by 12%, EPS upgraded The consensus outlook for fiscal year 2025 has been updated. 2025 revenue forecast fell from AU$663.0m to AU$583.3m. EPS estimate increased from AU$0.354 to AU$0.377 per share. Net income forecast to grow 46% next year vs 24% growth forecast for Metals and Mining industry in Australia. Consensus price target down from AU$7.08 to AU$6.78. Share price fell 4.1% to AU$5.40 over the past week. Announcement • Jul 12
IGO Limited Announces Company Secretary Changes IGO Limited announced the appointment of Ms. Rebecca Gordon as Company Secretary of the Company. Ms. Gordon is an experienced Company Secretary and lawyer, with expertise and skills in legal matters and advice, compliance and corporate governance functions in Australian and international companies. Ms. Gordon also holds a Bachelor of Laws, Bachelor of Commerce and Master of Business Administration and is a graduate of the Australian Institute of Company Directors. Ms. Gordon replaces Ms. Joanne McDonald as Company Secretary. Ms. McDonald has been with IGO for more than eight years and the Board sincerely thanks her for her significant contribution to the Company's growth and wishes her well in her future endeavours. IGO's Chief Legal Officer, Ms. Kate Barker, will continue as Joint Company Secretary. Major Estimate Revision • Jul 06
Consensus EPS estimates increase by 14% The consensus outlook for fiscal year 2024 has been updated. 2024 EPS estimate increased from AU$0.447 to AU$0.508. Revenue forecast steady at AU$811.5m. Net income forecast to grow 47% next year vs 25% growth forecast for Metals and Mining industry in Australia. Consensus price target broadly unchanged at AU$7.36. Share price rose 5.1% to AU$5.93 over the past week. Announcement • Jul 04
IGO Limited Appoints Marcelo Bastos as Independent Non-Executive Director Anglo American plc announced that Marcelo Bastos, an independent Non-Executive Director of the Company, was appointed as an independent non-executive director of IGO Limited on 1 July 2024. Announcement • Apr 21
IGO Limited, Annual General Meeting, Nov 06, 2024 IGO Limited, Annual General Meeting, Nov 06, 2024. Upcoming Dividend • Mar 05
Upcoming dividend of AU$0.11 per share Eligible shareholders must have bought the stock before 12 March 2024. Payment date: 27 March 2024. The company is paying out more than 100% of its profits but is generating plenty of cash to support the dividend. Trailing yield: 11%. Within top quartile of Australian dividend payers (6.4%). Higher than average of industry peers (5.5%). Valuation Update With 7 Day Price Move • Feb 28
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to AU$8.14, the stock trades at a forward P/E ratio of 18x. Average trailing P/E is 12x in the Metals and Mining industry in Australia. Total returns to shareholders of 24% over the past three years. Recent Insider Transactions • Feb 28
CEO, MD & Director recently bought AU$302k worth of stock On the 23rd of February, Ivan Vella bought around 42k shares on-market at roughly AU$7.27 per share. This transaction increased Ivan's direct individual holding by 3x at the time of the trade. This was the largest purchase by an insider in the last 3 months. This was Ivan's only on-market trade for the last 12 months. Reported Earnings • Feb 24
First half 2024 earnings released: EPS: AU$0.38 (vs AU$0.81 in 1H 2023) First half 2024 results: EPS: AU$0.38 (down from AU$0.81 in 1H 2023). Revenue: AU$438.2m (down 19% from 1H 2023). Net income: AU$288.3m (down 53% from 1H 2023). Profit margin: 66% (down from 113% in 1H 2023). Revenue is forecast to decline by 29% p.a. on average during the next 3 years, while revenues in the Metals and Mining industry in Australia are expected to remain flat. Over the last 3 years on average, earnings per share has increased by 45% per year but the company’s share price has only increased by 1% per year, which means it is significantly lagging earnings growth. Major Estimate Revision • Feb 23
Consensus EPS estimates fall by 12%, revenue upgraded The consensus outlook for fiscal year 2024 has been updated. 2024 revenue forecast increased from AU$804.9m to AU$850.9m. EPS estimate fell from AU$0.606 to AU$0.534 per share. Net income forecast to shrink 26% next year vs 20% growth forecast for Metals and Mining industry in Australia . Consensus price target broadly unchanged at AU$8.19. Share price rose 6.2% to AU$7.32 over the past week. Announcement • Feb 01
South32 Limited Commences Proceedings Against IGO Ltd in the Supreme Court of Western Australia Regis Resources Ltd. (Regis) notes IGO's announcement (IGO Announcement) advising that South32 Limited (South32) has commenced proceedings against IGO Ltd. (IGO) in the Supreme Court of Western Australia (Supreme Court Proceedings). In substance, South32 is seeking a court declaration in relation to the interpretation of the Agreement for the Sale of Assets and Mining Tenements dated 1 August 1997 (as subsequently amended, assigned or novated) (the Royalty Agreement). Regis understands that South32 alleges that properly interpreted, it is owed royalty payments under the Royalty Agreement at the rate of 1.5% of gross revenue from 100% of production from the Tropicana Gold Project, and is also seeking interest and costs. IGO, being the current counterparty to the Royalty Agreement, has announced that it disputes the allegations and intends to strongly defend the claim. Regis is not a party to the Royalty Agreement or the Supreme Court Proceedings. However, Regis is interested in the outcome of the Supreme Court Proceedings because there is overlap in the area over which South32 is claiming a royalty is payable, and the Tropicana Gold Project. Under the Asset Sale Agreement for the 30% interest in the Tropicana Gold Project between Regis and IGO, Regis assumed liability for the royalty to the extent it may apply to any of the Tropicana Gold Project after its acquisition (Transferred Royalty). Also, under the Asset Sale Agreement Regis agreed to indemnify IGO for liability arising in relation to the Transferred Royalty on the terms of the Asset Sale Agreement. Regis' view at the time of the acquisition was, and remains, that no amount is due under the Royalty Agreement in respect of current operations at the Tropicana Gold Project, and Regis intends to take appropriate action to protect its position. Price Target Changed • Feb 01
Price target decreased by 7.6% to AU$8.77 Down from AU$9.49, the current price target is an average from 15 analysts. New target price is 16% above last closing price of AU$7.56. Stock is down 49% over the past year. The company is forecast to post earnings per share of AU$0.82 for next year compared to AU$0.73 last year. Major Estimate Revision • Jan 31
Consensus EPS estimates fall by 10% The consensus outlook for fiscal year 2024 has been updated. 2024 EPS estimate fell from AU$0.968 to AU$0.867 per share. Revenue forecast steady at AU$831.3m. Net income forecast to grow 24% next year vs 17% growth forecast for Metals and Mining industry in Australia. Consensus price target down from AU$9.53 to AU$9.28. Share price rose 7.2% to AU$7.73 over the past week. Announcement • Jan 25
IGO Limited to Report First Half, 2024 Results on Feb 22, 2024 IGO Limited announced that they will report first half, 2024 results on Feb 22, 2024 Price Target Changed • Dec 21
Price target decreased by 7.2% to AU$10.23 Down from AU$11.02, the current price target is an average from 15 analysts. New target price is 14% above last closing price of AU$9.01. Stock is down 35% over the past year. The company is forecast to post earnings per share of AU$1.00 for next year compared to AU$0.73 last year. Valuation Update With 7 Day Price Move • Dec 19
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to AU$8.88, the stock trades at a forward P/E ratio of 9x. Average forward P/E is 11x in the Metals and Mining industry in Australia. Total returns to shareholders of 56% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at AU$11.56 per share. Price Target Changed • Nov 21
Price target decreased by 7.4% to AU$11.81 Down from AU$12.76, the current price target is an average from 14 analysts. New target price is 29% above last closing price of AU$9.18. Stock is down 43% over the past year. The company is forecast to post earnings per share of AU$1.10 for next year compared to AU$0.73 last year. Price Target Changed • Nov 15
Price target decreased by 9.9% to AU$12.29 Down from AU$13.63, the current price target is an average from 14 analysts. New target price is 33% above last closing price of AU$9.25. Stock is down 42% over the past year. The company is forecast to post earnings per share of AU$1.15 for next year compared to AU$0.73 last year. Price Target Changed • Oct 31
Price target decreased by 7.2% to AU$12.81 Down from AU$13.80, the current price target is an average from 15 analysts. New target price is 35% above last closing price of AU$9.51. Stock is down 38% over the past year. The company is forecast to post earnings per share of AU$1.18 for next year compared to AU$0.73 last year. Buying Opportunity • Sep 13
Now 23% undervalued after recent price drop Over the last 90 days, the stock is down 11%. The fair value is estimated to be AU$17.09, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 26% over the last 3 years. Earnings per share has grown by 74%. For the next 3 years, revenue is forecast to decline by 8.3% per annum. Earnings is forecast to grow by 5.6% per annum over the same time period. Upcoming Dividend • Sep 06
Upcoming dividend of AU$0.60 per share at 6.0% yield Eligible shareholders must have bought the stock before 13 September 2023. Payment date: 28 September 2023. Payout ratio is on the higher end at 80%, however this is supported by cash flows. Trailing yield: 6.0%. Lower than top quartile of Australian dividend payers (7.0%). In line with average of industry peers (5.6%). Announcement • Sep 01
IGO Limited Declarers Special Dividend for the Year Ended June 30, 2023, Payable on September 28, 2023 On 30 August 2023, the IGO Limited resolved to pay special dividend of 16 cents per share for the year ended June 30, 2023, fully franked, to be paid on September 28, 2023. Reported Earnings • Aug 31
Full year 2023 earnings: EPS and revenues miss analyst expectations Full year 2023 results: EPS: AU$0.72 (up from AU$0.44 in FY 2022). Revenue: AU$1.03b (up 14% from FY 2022). Net income: AU$549.1m (up 66% from FY 2022). Profit margin: 53% (up from 37% in FY 2022). Revenue missed analyst estimates by 2.3%. Earnings per share (EPS) also missed analyst estimates by 56%. Revenue is expected to decline by 4.4% p.a. on average during the next 3 years, while revenues in the Metals and Mining industry in Australia are expected to grow by 2.9%. Over the last 3 years on average, earnings per share has increased by 74% per year but the company’s share price has only increased by 45% per year, which means it is significantly lagging earnings growth. Buying Opportunity • Aug 02
Now 20% undervalued The stock has been flat over the last 90 days. The fair value is estimated to be AU$17.59, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 12% over the last 3 years. Earnings per share has grown by 62%. For the next 3 years, revenue is forecast to decline by 4.0% per annum. Earnings is also forecast to decline by 2.1% per annum over the same time period. Buying Opportunity • Jul 18
Now 20% undervalued Over the last 90 days, the stock is up 2.6%. The fair value is estimated to be AU$18.60, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 12% over the last 3 years. Earnings per share has grown by 62%. For the next 3 years, revenue is forecast to decline by 3.3% per annum. Earnings is also forecast to decline by 1.5% per annum over the same time period. Buying Opportunity • Jun 15
Now 21% undervalued Over the last 90 days, the stock is up 21%. The fair value is estimated to be AU$18.61, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 12% over the last 3 years. Earnings per share has grown by 62%. For the next 3 years, revenue is forecast to grow by 0.9% per annum. Earnings is forecast to decline by 0.4% per annum over the same time period. Buying Opportunity • May 24
Now 20% undervalued Over the last 90 days, the stock is up 9.4%. The fair value is estimated to be AU$18.26, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 12% over the last 3 years. Earnings per share has grown by 62%. For the next 3 years, revenue is forecast to grow by 0.2% per annum. Earnings is forecast to decline by 11% per annum over the same time period. Buying Opportunity • May 09
Now 20% undervalued The stock has been flat over the last 90 days. The fair value is estimated to be AU$18.35, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 12% over the last 3 years. Earnings per share has grown by 62%. For the next 3 years, revenue is forecast to grow by 0.5% per annum. Earnings is forecast to decline by 12% per annum over the same time period. Announcement • May 06
Metal Hawk Limited (ASX:MHK) signed a binding agreement to acquire remaining 51% stake in Kanowna East, Emu Lake and Fraser South projects in Western Australia from IGO Limited (ASX:IGO) for AUD 0.26 million. Metal Hawk Limited (ASX:MHK) signed a binding agreement to acquire remaining 51% stake in Kanowna East, Emu Lake and Fraser South projects in Western Australia from IGO Limited (ASX:IGO) for AUD 0.26 million on May 4, 2023. The transaction will result in IGO’s shareholding in Metal Hawk increasing from 5.4% to 8.2%. The payment for IGO’s 51% interest in the Fraser South, Kanowna East and Emu Lake Projects consists of 2 million fully paid MHK shares and 2 million MHK options.