IGO LTD's stock price surged 6.28% during intraday trading on Monday, marking a significant recovery movement.

The rally follows a recent sharp decline and is supported by Macquarie's maintained outperform rating on the stock. The firm highlights IGO's exposure to the Greenbushes lithium mine in Australia, which it considers a top-tier asset, as a key reason for its positive stance despite near-term operational challenges.

Additionally, the stock's implied lithium price was noted to be trading at a substantial discount to the spot price, potentially contributing to investor interest and the session's upward price action.