I am now completely out of IGO after nearly 15 years of continuously holding at varying levels.
The quarterly result looked good to me, but the 2020 guidance less so (costs mostly).
Worryingly they have net cash building, and a track record of overpaying for acquisitions (and in the last case seemingly not caring about it, putting growth ambition ahead of shareholder wealth).
Good result, but doesn’t in my opinion justify a $3 bn plus price tag.
Let’s see how long before the cash burns a hole in their pocket. No doubt the M&A industry are already working hard on them. How long before they find a fairytale that resonates?
EL
News: IGO Independence Group Posts Q4 Profit After Tax $30.1 MLN, page-2
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Last
$6.07 |
Change
0.150(2.53%) |
Mkt cap ! $4.596B | |||
| Open | High | Low | Value | Volume |
| $5.95 | $6.14 | $5.91 | $17.77M | 2.929M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 7 | 43532 | $6.06 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $6.08 | 30273 | 3 |
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| Last trade - 16.10pm 12/07/2024 (20 minute delay) ? |
| IGO (ASX) Chart |