IGO Ltd's stock plummeted 5% during intraday trading on Thursday, following the release of the company's first-half fiscal results that showed declining revenue and a net loss.

The Australian miner reported H1 revenue of AUD 194.1 million, representing a 32% year-over-year decline and missing analyst expectations of AUD 201.6 million. The company posted a net loss of AUD 34.1 million for the six-month period, though this was a significant improvement from the much larger loss in the prior year.

Market analysts described the results as "benign" with "little new information" and noted there were "no guidance changes or forward-looking surprises." The company also did not declare an interim dividend, which may have contributed to investor disappointment despite the narrowing of losses.