Macquarie keeps AUD 9.00 target for IGO Limited stock

Published on 10/25/2026 at 01:40 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

IGO Limited earned AUD 145.00 million in fiscal 2026. IGO Limited stock has October 29 results ahead and AUD 4.10 billion market value.

Capital returns and near term dates

Macquarie maintained its Buy rating and AUD 9.00 target on October 8, 2026.
IGO generated AUD 463.00 million in fiscal 2026 revenue and AUD 145.00 million in net profit.
IGO's annual general meeting is scheduled for November 18, 2026.

IGO, AU000000IGO4, Illustration mit AI erstellt.

Macquarie maintained a Buy rating and set an AUD 9.00 price target for IGO Limited on October 8, 2026, giving IGO stock a clear valuation marker before its next quarterly update, according to The Globe and Mail.

Profit returned in fiscal 2026

IGO reported AUD 463.00 million of revenue and AUD 145.00 million of statutory net profit after tax for fiscal 2026. Underlying EBITDA reached AUD 286.00 million, while underlying free cash flow rose to AUD 134.00 million, up 176.00 percent from fiscal 2025, according to Yahoo Finance.

The balance sheet also strengthened during the year. IGO ended fiscal 2026 with AUD 387.00 million of cash, no drawn debt and an undrawn AUD 300.00 million corporate debt facility. The figures matter because the company is transitioning away from the Nova operation and placing more weight on its lithium assets.

Three events shaped the stock

On September 1, 2026, IGO appointed Anthea McKinnell as a non-executive director; on October 8, 2026, Macquarie maintained its Buy rating and AUD 9.00 target; and on October 13, 2026, investor sentiment commentary cited a 15.00 percent weekly decline to AUD 5.51, according to Simply Wall St.

What does the AUD 9.00 target imply?

IGO last closed at AUD 4.77 on the ASX on October 23, 2026. Macquarie's AUD 9.00 target therefore lies 88.68 percent above that closing price. The comparison also highlights the execution risk: management must replace Nova's cash generation as mining approaches its planned December 2026 closure, while Greenbushes remains central to future lithium earnings.

Results and AGM dates

IGO's next quarterly results are scheduled for October 29, 2026, followed by the annual general meeting on November 18, 2026, according to Simply Wall St. Those dates give investors the next checkpoints for Greenbushes operations, portfolio changes and cash generation.

ASX price remains the market reference

On the ASX, IGO last closed at AUD 4.77 on October 23, 2026. IGO Limited is listed on the Australian Securities Exchange under ticker IGO and operates in battery minerals, including lithium and nickel, according to Global Banking and Finance Review. The further course of trading is shown by the continuously updated real-time quote of IGO stock.