Ivanhoe Mines (OTCMKTS:IVPAF) Reaches New 52-Week High – What’s Next?

Ivanhoe Mines Ltd. (OTCMKTS:IVPAF) shares reached a new 52-week high during trading on Friday . The stock traded as high as $12.3950 and last traded at $12.32, with a volume of 152724 shares trading hands. The stock had previously closed at $11.75.

Analysts Set New Price Targets

Several research analysts have recently weighed in on IVPAF shares. Scotiabank upgraded shares of Ivanhoe Mines from a “hold” rating to an “outperform” rating in a report on Monday, September 29th. Citigroup reaffirmed a “buy” rating on shares of Ivanhoe Mines in a research note on Wednesday, October 8th. Jefferies Financial Group lowered shares of Ivanhoe Mines from a “buy” rating to a “hold” rating in a report on Sunday, December 7th. Morgan Stanley set a $15.20 price objective on Ivanhoe Mines in a report on Monday, December 15th. Finally, TD Securities reaffirmed a “buy” rating on shares of Ivanhoe Mines in a research report on Monday, September 29th. Three equities research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $15.20.

Ivanhoe Mines Stock Up 5.3%

The firm’s 50-day moving average price is $10.76 and its 200-day moving average price is $9.76. The company has a market cap of $17.63 billion and a price-to-earnings ratio of 56.25. The company has a debt-to-equity ratio of 0.18, a current ratio of 4.23 and a quick ratio of 4.03.

Ivanhoe Mines (OTCMKTS:IVPAF) last posted its earnings results on Wednesday, October 29th. The company reported $0.02 earnings per share for the quarter, beating the consensus estimate of ($0.02) by $0.04. Ivanhoe Mines had a net margin of 89.02% and a return on equity of 5.99%. The business had revenue of $129.40 million for the quarter, compared to analyst estimates of $128.95 million.

Ivanhoe Mines Company Profile

Ivanhoe Mines is a Canada-based mineral exploration and development company focused on unlocking high-value deposits of copper, nickel, zinc, and platinum-group metals. The company pursues a two-pronged strategy of advancing large-scale mining projects through feasibility and development stages while also expanding its exploration footprint. Ivanhoe’s technical expertise spans geology, engineering, environmental management, and community relations, enabling it to secure the necessary permits and infrastructure for major mine developments.

The company’s flagship asset is the Kamoa-Kakula copper complex in the Democratic Republic of Congo (DRC), a joint venture with the government of the DRC and Zijin Mining.