Ivanhoe Mines (OTCMKTS:IVPAF) Stock Price Up 11.3% – Should You Buy?
by Tristan Rich · The Markets DailyShares of Ivanhoe Mines Ltd. (OTCMKTS:IVPAF – Get Free Report) shot up 11.3% during trading on Wednesday . The stock traded as high as $8.2635 and last traded at $8.2622. 119,151 shares changed hands during trading, a decline of 74% from the average session volume of 464,258 shares. The stock had previously closed at $7.4230.
Wall Street Analyst Weigh In
Several research analysts recently weighed in on the stock. Scotiabank downgraded shares of Ivanhoe Mines from a “strong-buy” rating to a “hold” rating in a report on Wednesday, April 1st. Morgan Stanley set a $15.20 price target on Ivanhoe Mines in a report on Monday, December 15th. Royal Bank Of Canada downgraded Ivanhoe Mines from a “moderate buy” rating to a “hold” rating in a research report on Monday. Raymond James Financial cut shares of Ivanhoe Mines from a “moderate buy” rating to a “hold” rating in a research note on Wednesday, April 1st. Finally, Canaccord Genuity Group downgraded Ivanhoe Mines from a “strong-buy” rating to a “hold” rating in a research report on Friday, February 20th. Two investment analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $15.20.
Get Our Latest Report on Ivanhoe Mines
Ivanhoe Mines Price Performance
The firm’s 50 day simple moving average is $10.17 and its 200 day simple moving average is $10.48. The company has a market capitalization of $11.85 billion and a PE ratio of 43.74. The company has a quick ratio of 2.10, a current ratio of 2.23 and a debt-to-equity ratio of 0.16.
Ivanhoe Mines (OTCMKTS:IVPAF – Get Free Report) last issued its quarterly earnings results on Wednesday, February 18th. The company reported $0.04 EPS for the quarter, meeting the consensus estimate of $0.04. Ivanhoe Mines had a net margin of 59.23% and a return on equity of 4.90%. The company had revenue of $138.42 million for the quarter, compared to the consensus estimate of $189.75 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.