Ivanhoe Mines (OTCMKTS:IVPAF) Hits New 52-Week High – Here’s What Happened

Ivanhoe Mines Ltd. (OTCMKTS:IVPAF)’s stock price reached a new 52-week high during trading on Thursday . The stock traded as high as $14.4273 and last traded at $13.88, with a volume of 382169 shares traded. The stock had previously closed at $13.60.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on IVPAF shares. Raymond James Financial restated an “outperform” rating on shares of Ivanhoe Mines in a research note on Wednesday, January 14th. Jefferies Financial Group downgraded shares of Ivanhoe Mines from a “buy” rating to a “hold” rating in a research report on Sunday, December 7th. Morgan Stanley set a $15.20 price target on shares of Ivanhoe Mines in a research note on Monday, December 15th. Citigroup reaffirmed a “buy” rating on shares of Ivanhoe Mines in a report on Wednesday, October 8th. Finally, Scotiabank reissued an “outperform” rating on shares of Ivanhoe Mines in a report on Monday. Three analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, Ivanhoe Mines currently has an average rating of “Buy” and a consensus price target of $15.20.

Ivanhoe Mines Trading Down 9.1%

The company has a quick ratio of 4.03, a current ratio of 4.23 and a debt-to-equity ratio of 0.18. The firm’s 50 day simple moving average is $11.22 and its two-hundred day simple moving average is $9.94. The stock has a market cap of $18.02 billion and a P/E ratio of 57.50.

Ivanhoe Mines (OTCMKTS:IVPAF) last posted its quarterly earnings results on Wednesday, October 29th. The company reported $0.02 EPS 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 during the quarter, compared to analyst estimates of $128.95 million.

About Ivanhoe Mines

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.