Ivanhoe Mines (OTCMKTS:IVPAF) Sets New 12-Month High – What’s Next?

Ivanhoe Mines Ltd. (OTCMKTS:IVPAF) shares reached a new 52-week high during mid-day trading on Thursday . The stock traded as high as $12.37 and last traded at $11.8090, with a volume of 18949 shares changing hands. The stock had previously closed at $12.08.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on IVPAF shares. Citigroup reissued a “buy” rating on shares of Ivanhoe Mines in a research note on Wednesday, October 8th. Morgan Stanley set a $15.20 price objective on Ivanhoe Mines in a report on Monday, December 15th. Scotiabank upgraded Ivanhoe Mines from a “hold” rating to an “outperform” rating in a research report on Monday, September 29th. Jefferies Financial Group lowered Ivanhoe Mines from a “buy” rating to a “hold” rating in a research note on Sunday, December 7th. Finally, Raymond James Financial reiterated an “outperform” rating on shares of Ivanhoe Mines in a research report on Wednesday. Three analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $15.20.

Ivanhoe Mines Price Performance

The firm has a market capitalization of $16.94 billion and a PE ratio of 54.14. The stock’s 50 day simple moving average is $10.40 and its two-hundred day simple moving average is $9.56. The company has a debt-to-equity ratio of 0.18, a quick ratio of 4.03 and a current ratio of 4.23.

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, beating analysts’ consensus estimates of ($0.02) by $0.04. Ivanhoe Mines had a return on equity of 5.99% and a net margin of 89.02%.The business had revenue of $129.40 million during the quarter, compared to analyst estimates of $128.95 million.

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.