Independence Group NL (IGO) - Research

$4.665 0.115 (2.53%)

IGO General Information +

ASX Code IGO
Website http://www.igo.com.au
GICS Sub-Industry Diversified Metals & Mining
Market Cap ($M) 2,754
Current Price $4.665
Day High $4.700
Day Low $4.640
Last Close $4.550
Price Movement $0.12 ( 2.53% )
Prices as at 11:10, 19 Jun 2019
+Security prices are delayed by at least 20 minutes and are indicative only.

Recommendation


Independence Group NL (IGO)
BUY
below
HOLD
up to
SELL
above
Current Price
$4.665 as at 11:10, 19 Jun 2019

Price at review
$4.665 on 29 Mar 19

Business Risk

Share Price Risk

IGO Related Research

IGO Company Overview

Business Description

Independence Group NL (ASX: IGO) is an ASX-listed diversified mining and exploration company with a strategic focus on high quality assets of scale and longevity, and an evolving strategy to align the business to the structural shift to energy storage. The Company's focus is on Nova nickel-copper-cobalt operation, its 30% interest in the Tropicana Gold Mine, a Joint Venture with AngloGold Ashanti, and its portfolio of belt scale exploration projects in WA and the NT.

IGO Financial Summary

Year to Jun NPAT EPS EPS chg (%) PER DPS Yield (%) Franking (%)
2020 F 154.59 26.06 95.00% 17.46 13.00 2.86% 15.4%
2019 F 79.21 13.36 49.40% 34.06 7.00 1.54% 60.0%
2018 A 52.69 8.94 24.60% 48.71 3.00 0.69% 100.0%

IGO Peer Comparison

Company Mkt Cap EPS Growth (%) P/E (%) Dividend Yield (%)
2018 A 2019 F 2020 F 2018 A 2019 F 2020 F 2018 A 2019 F 2020 F
BHP Group (BHP) $118,305M 0.4448 0.0675 0.1694 16.0910 15.0734 12.8904 3.98% 6.44% 5.59%
Independence Group (IGO) $2,657M 1.3573 1.4348 0.5039 52.8790 21.7181 14.4416 0.67% 2.20% 3.13%
Iluka Resources (ILU) $4,369M 2.7345 0.1520 -0.1263 13.3179 11.5608 13.2327 2.80% 2.55% 2.93%
Rio Tinto (RIO) $38,555M 0.1465 0.3439 -0.1417 14.4242 10.7328 12.5044 7.50% 6.52% 5.53%
South32 (S32) $15,914M 0.2485 0.0747 -0.2397 8.5146 7.9230 10.4208 4.48% 5.92% 5.51%

IGO Market Comparison

Earnings P/E Ratio P/B Ratio P/E Growth
Company 2.29 22.40 1.50 0.25
Market 0.88 17.10 1.49 1.65
Sector 1.41 12.60 1.22 0.71

IGO Directors

Name Position Start Date
Mr Peter John Luckhurst Bradford Chief Executive Officer, Managing Director 17 Mar 2014
Mr Keith William Spence Non-Executive Director 17 Dec 2014
Mr Geoffrey Clifford Non-Executive Director 10 Dec 2012
Mr Peter Buck Non-Executive Director 3 Oct 2014
Mr Neil Fredrick Warburton Non-Executive Director 12 Oct 2015
Ms Debra Bakker Non-Executive Director 14 Dec 2016
Mr Peter Ross Bilbe Non-Executive Director, Non-Executive Chairman 31 Mar 2009

IGO Management

Name Position
Scott Steinkrug Chief Financial Officer,Joint Company Secretary
Matt Dusci Chief Operating Officer
Joanne McDonald Company Secretary
Ian Sandl General Manager Exploration
Andrew Eddowes Head of Corporate Development
Sam Retallack Head of People & Culture
Keith Ashby Head of SHEQ & Risk

IGO Substantial Shareholders

Holding Name
95,562,917 (16.19%) Mark Gareth Creasy
50,715,214 (8.59%) FIL Limited and the entities
48,341,790 (8.19%) T. Rowe Price Associates, Inc.
35,735,668 (6.05%) Commonwealth Bank of Australia and its related bodies corporate
30,311,742 (5.13%) Ausbil Investment Management Limited

IGO Calendar of Events

Date Event
28 April 2020 Report (Quarterly)
30 January 2020 Report (Interim)
30 January 2020 Report (Quarterly)
28 October 2019 Report (Quarterly)
28 August 2019 Report (Annual)
28 August 2019 Report (Prelim)
26 July 2019 Report (Quarterly)

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