Ivanhoe Mines Ltd. (OTCMKTS:IVPAF) Given Average Recommendation of “Buy” by Analysts

Shares of Ivanhoe Mines Ltd. (OTCMKTS:IVPAF) have received an average rating of “Buy” from the eight ratings firms that are covering the stock, Marketbeat reports. One research analyst has rated the stock with a hold rating, four have assigned a buy rating and three have assigned a strong buy rating to the company. The average 12-month price target among brokerages that have covered the stock in the last year is $15.20.

A number of brokerages have issued reports on IVPAF. TD Securities reissued a “buy” rating on shares of Ivanhoe Mines in a report on Monday, September 29th. Citigroup reissued a “buy” rating on shares of Ivanhoe Mines in a report on Wednesday, October 8th. Morgan Stanley set a $15.20 price objective on Ivanhoe Mines in a research note on Monday, December 15th. Scotiabank raised Ivanhoe Mines from a “hold” rating to an “outperform” rating in a research report on Monday, September 29th. Finally, Jefferies Financial Group downgraded shares of Ivanhoe Mines from a “buy” rating to a “hold” rating in a report on Sunday, December 7th.

Ivanhoe Mines Stock Up 1.7%

IVPAF stock opened at $11.65 on Friday. The firm has a market cap of $16.57 billion and a price-to-earnings ratio of 52.96. Ivanhoe Mines has a 1-year low of $6.50 and a 1-year high of $12.30. The firm has a fifty day moving average price of $10.24 and a two-hundred day moving average price of $9.47. 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 quarterly earnings results on Wednesday, October 29th. The company reported $0.02 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.02) by $0.04. Ivanhoe Mines had a net margin of 89.02% and a return on equity of 5.99%. The company had revenue of $129.40 million for the quarter, compared to the consensus estimate 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.