IGO 2.96% $10.16 igo limited

Goldman Sachs today lifts IGO valuation to $11.

  1. 123 Posts.
    lightbulb Created with Sketch. 9
    In a review Analyst Research it flies above the Macquarie Bank recommended $10 valuation.
    Goldman Sachs indicates:
    Valuation: Trading at 0.91xNAV and a significant relative discount to peers on an earnings multiple basis. In our view, IGO's share price is implying ~18.5x FY22E EBITDA for the lithium JV (at 5.0x for Nova and the rest of the business), vs. >35x for global integrated lithium comps.

    FCF and returns: With cash flow from Nova underpinning ~6-7% FCF yield through the ramp-up and significant expansion of both Kwinana and Greenbushes. IGO remains net cash, and could look to continue returning excess cash or pursue further value-accretive M&A.

    Differentiated and high-quality commodity exposure: Positioned in the bottom quartile of the cost curve across nickel, spodumene, and lithium hydroxide and well positioned to take advantage of growing demand across key battery materials.
 
watchlist Created with Sketch. Add IGO (ASX) to my watchlist
(20min delay)
Last
$10.16
Change
-0.310(2.96%)
Mkt cap ! $7.693B
Open High Low Value Volume
$10.46 $10.46 $10.13 $18.31M 1.791M

Buyers (Bids)

No. Vol. Price($)
3 21689 $10.16
 

Sellers (Offers)

Price($) Vol. No.
$10.20 14602 1
View Market Depth
Last trade - 16.10pm 26/11/2021 (20 minute delay) ?
(live)
Last
$10.20
  Change
-0.310 ( 2.70 %)
Open High Low Volume
$10.45 $10.46 $10.13 351539
Last updated 15.59pm 26/11/2021 (live) ?
IGO (ASX) Chart
arrow-down-2 Created with Sketch. arrow-down-2 Created with Sketch.