Ivanhoe Mines (OTCMKTS:IVPAF) Shares Gap Down – Time to Sell?

Ivanhoe Mines Ltd. (OTCMKTS:IVPAF)’s share price gapped down before the market opened on Thursday . The stock had previously closed at $10.09, but opened at $9.52. Ivanhoe Mines shares last traded at $10.2010, with a volume of 14,353 shares traded.

Analysts Set New Price Targets

IVPAF has been the subject of several analyst reports. Morgan Stanley restated an “overweight” rating on shares of Ivanhoe Mines in a report on Wednesday, October 8th. TD Securities reissued a “buy” rating on shares of Ivanhoe Mines in a research report on Monday, September 29th. Scotiabank raised shares of Ivanhoe Mines from a “hold” rating to an “outperform” rating in a report on Monday, September 29th. Jefferies Financial Group downgraded shares of Ivanhoe Mines from a “buy” rating to a “hold” rating in a research note on Sunday. Finally, Citigroup reiterated a “buy” rating on shares of Ivanhoe Mines in a report on Wednesday, October 8th. Three research analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Buy”.

Ivanhoe Mines Stock Performance

The firm’s fifty day moving average is $10.08 and its 200-day moving average is $8.98. The company has a current ratio of 4.23, a quick ratio of 4.03 and a debt-to-equity ratio of 0.18. The stock has a market capitalization of $14.54 billion and a PE ratio of 68.13.

Ivanhoe Mines (OTCMKTS:IVPAF) last announced its quarterly earnings results on Wednesday, October 29th. The company reported $0.02 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.04. The business had revenue of $129.40 million during the quarter, compared to analysts’ expectations of $128.95 million. Ivanhoe Mines had a net margin of 89.02% and a return on equity of 5.76%.

About Ivanhoe Mines

Ivanhoe Mines Ltd. engages in the mining, development, and exploration of minerals and precious metals primarily in Africa. It explores for platinum, palladium, nickel, copper, gold, rhodium, zinc, silver, germanium, and lead deposits. The company's projects include the Platreef project located in the Northern Limb of South Africa's Bushveld Complex; the Kipushi project located in Haut-Katanga Province, Democratic Republic of Congo; and the Kamoa-Kakula project located within the Central African Copperbelt.