Ivanhoe Mines (OTCMKTS:IVPAF) Announces Earnings Results, Beats Expectations By $0.02 EPS
by Sarita Garza · The Markets DailyIvanhoe Mines (OTCMKTS:IVPAF – Get Free Report) released its earnings results on Wednesday. The company reported $0.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.02 by $0.02, Zacks reports. Ivanhoe Mines had a net margin of 89.02% and a return on equity of 5.99%.
Ivanhoe Mines Stock Down 0.1%
OTCMKTS IVPAF traded down $0.01 during trading hours on Wednesday, hitting $11.80. 408,726 shares of the company were exchanged, compared to its average volume of 390,910. 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 has a market cap of $16.83 billion and a price-to-earnings ratio of 53.64. The company has a 50 day moving average of $11.82 and a two-hundred day moving average of $10.34. Ivanhoe Mines has a 52-week low of $6.50 and a 52-week high of $15.00.
Wall Street Analyst Weigh In
A number of brokerages have recently issued reports on IVPAF. Scotiabank reaffirmed an “outperform” rating on shares of Ivanhoe Mines in a research report on Monday, January 26th. Morgan Stanley set a $15.20 price target on Ivanhoe Mines in a research note on Monday, December 15th. Raymond James Financial reissued an “outperform” rating on shares of Ivanhoe Mines in a report on Wednesday, January 14th. Finally, Jefferies Financial Group lowered Ivanhoe Mines from a “buy” rating to a “hold” rating in a research report on Sunday, December 7th. Three analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, Ivanhoe Mines has a consensus rating of “Buy” and an average price target of $15.20.
Get Our Latest Analysis on Ivanhoe Mines
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.