IGO has been a standout performer through 2022 having rallied +44% year to date, this is a great company but it has arguably run too hard this year. IGO is another candidate where MM can see itself trimming its 5% holding as the stock feels far closer to its destination, plus it no longer scans as cheap in our opinion.
- We like IGO but are very conscious of how crowded the ESG space has become, an investment thesis that encapsulates IGO.
MM is net bullish IGO
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