IGO stock gained 1.56 percent on October 6 as earnings recover

Published on 10/06/2026 at 12:14 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

IGO stock traded at AUD 6.52 on the ASX on October 6, 2026, while Macquarie kept a Buy rating and an AUD 9.00 target. FY2026 free cash flow rose 176 percent.

IGO, AU000000IGO4, Illustration mit AI erstellt.

IGO Limited (ISIN AU000000IGO4) stock gained 1.56 percent to AUD 6.52 on the ASX on October 6, 2026, with the latest quote timestamped at 4:10 p.m. AEDT. The move follows a FY2026 earnings recovery that returned the miner to statutory profit and lifted cash generation.

FY2026 cash flow turns positive

According to Yahoo Finance, IGO reported FY2026 revenue of AUD 463 million, down 12 percent from FY2025. Underlying EBITDA reached AUD 286 million, while statutory net profit after tax was AUD 145 million.

The cash flow comparison is more favorable. Underlying free cash flow rose 176 percent year over year to AUD 134 million in FY2026, and the company ended the year with AUD 387 million of cash and zero drawn debt, according to Yahoo Finance.

Analyst target stays above price

Markets Insider reported on October 1, 2026, that Macquarie maintained a Buy rating on IGO and set an AUD 9.00 price target. The published target places the price 27.8 percent above the ASX quote of AUD 6.52.

The same report listed a Moderate Buy consensus with an average price target of AUD 8.03. That average leaves the stock 18.8 percent below the consensus target, making the market's view more constructive than the current quotation while still leaving the result dependent on operating delivery.

Greenbushes remains the key test

IGO's earnings call linked the FY2026 improvement to lithium earnings, stronger spodumene pricing and better performance at Greenbushes. The company also said CGP3 was approaching nameplate performance after repairs, while Kwinana remained subject to strategic work with its joint-venture partner, according to Yahoo Finance.

That operating mix explains the gap between the improved FY2026 profit and the lower annual revenue. Nova generated AUD 228 million of free cash flow, but its mine life is nearing completion, leaving Greenbushes and the lithium portfolio as the central drivers of IGO's next earnings phase.

IGO stock stays below yearly high

IGO stock was last at AUD 6.52 on the ASX on October 6, 2026, with a session range of AUD 6.42 to AUD 6.60. The 52-week range was AUD 4.87 to AUD 10.05, market capitalization was AUD 4.9 billion, and trading volume reached 2,414,103 shares.