Macquarie cuts IGO target to AUD 9.00 for IGO stock

Published on 10/07/2026 at 05:26 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

IGO stock posted AUD 134 million in fiscal 2026 cash flow, up 176 percent. The next quarterly report is scheduled for October 29, 2026, under the ASX calendar.

IGO, AU000000IGO4, Illustration mit AI erstellt.

Macquarie cut its price target for IGO stock by 5 percent to AUD 9.00 in a note dated October 1, 2026, according to TradingView. The target change gives investors a fresh reference point while IGO continues to reposition its lithium and nickel portfolio.

Target cut meets stronger cash flow

IGO reported AUD 134 million of underlying free cash flow for fiscal 2026, up 176 percent from fiscal 2025, while underlying EBITDA reached AUD 286 million. The figures came from the company's fiscal 2026 earnings call carried by Yahoo Finance on August 27, 2026.

Statutory net profit after tax was AUD 145 million in fiscal 2026, compared with a statutory loss of AUD 955 million in fiscal 2025. Revenue was AUD 463 million, down 12 percent year over year, showing that the earnings recovery depended more on profitability and lithium exposure than on top-line growth.

Quarterly date keeps attention on operations

IGO's next quarterly activities report is scheduled for October 29, 2026, according to Finscry. The date matters because the company enters fiscal 2027 with Greenbushes lithium operations, the CGP3 ramp-up and the final phase of Nova mining shaping its cash outlook.

Management said fiscal 2026 ended with AUD 387 million of cash and an undrawn AUD 300 million corporate debt facility. The same earnings call said Nova generated AUD 228 million of free cash flow, making the mine's transition toward the end of its operating life a central test for the next reporting cycle.

IGO remains below its yearly high

IGO was last at AUD 6.42 on the ASX on October 7, 2026 at 2:06 p.m. AEDT. Its 52-week range was AUD 4.87 to AUD 10.05, putting the quote 36.12 percent below the high, while market capitalization stood at AUD 4.9 billion. The further course of trading is shown by the continuously updated real-time quote of IGO stock.