Jefferies cuts PT for Australia's IGO citing over-reliance on Greenbushes cash flows
BUZZ-Jefferies cuts PT for Australia's IGO citing over-reliance on Greenbushes cash flows ** Analysts at Jefferies lower the price target for Australia's IGO IGO.AX to A$7.00 from A$7.50, reiterate "hold" rating
** Jefferies says as the Nova Nickel operation reaches end of life, the critical minerals explorer is over-reliant on Greenbushes-derived cash flows, over which it holds limited control
** Fourth-quarter Greenbushes spodumene production of 387 kt fell 2% below Jefferies estimates, driven by lower plant recovery offset by increased feed volume
** Q4 Kwinana lithium hydroxide production decreased 71% to 897 kt from previous quarter due to a major planned shutdown, with a further shutdown in Q1FY27 for additional works
** Co sees FY27 Greenbushes spodumene production of 1,550-1,750 kt
** IGO down 14.8% YTD
(Reporting by Keshav Singh Chundawat in Bengaluru)
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