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.
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- Goldman Sachs today lifts IGO valuation to $11.
In a review Analyst Research it flies above the Macquarie Bank...
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Last
$5.07 |
Change
-0.115(2.22%) |
Mkt cap ! $3.899B |
Open | High | Low | Value | Volume |
$5.15 | $5.22 | $5.06 | $7.466M | 1.442M |
Buyers (Bids)
No. | Vol. | Price($) |
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19 | 24532 | $5.06 |
Sellers (Offers)
Price($) | Vol. | No. |
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$5.07 | 23344 | 41 |
View Market Depth
No. | Vol. | Price($) |
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18 | 22992 | 5.060 |
16 | 31226 | 5.050 |
12 | 69116 | 5.040 |
14 | 31087 | 5.030 |
13 | 109935 | 5.020 |
Price($) | Vol. | No. |
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5.070 | 24192 | 42 |
5.080 | 14156 | 20 |
5.090 | 16475 | 20 |
5.100 | 17783 | 11 |
5.110 | 34237 | 10 |
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