Ivanhoe Mines (OTCMKTS:IVPAF) Shares Gap Up – Here’s What Happened

Shares of Ivanhoe Mines Ltd. (OTCMKTS:IVPAF) gapped up prior to trading on Friday . The stock had previously closed at $13.91, but opened at $14.61. Ivanhoe Mines shares last traded at $12.85, with a volume of 73,552 shares trading hands.

Wall Street Analyst Weigh In

IVPAF has been the topic of a number of recent analyst reports. Jefferies Financial Group lowered Ivanhoe Mines from a “buy” rating to a “hold” rating in a research note on Sunday, December 7th. Morgan Stanley set a $15.20 price target on shares of Ivanhoe Mines in a research report on Monday, December 15th. Scotiabank reiterated an “outperform” rating on shares of Ivanhoe Mines in a research report on Monday. Citigroup reissued a “buy” rating on shares of Ivanhoe Mines in a research note on Wednesday, October 8th. Finally, Raymond James Financial reaffirmed an “outperform” rating on shares of Ivanhoe Mines in a research report on Wednesday, January 14th. Three research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $15.20.

Ivanhoe Mines Price Performance

The company has a debt-to-equity ratio of 0.18, a current ratio of 4.23 and a quick ratio of 4.03. The firm has a market capitalization of $18.38 billion and a price-to-earnings ratio of 58.66. The business’s fifty day simple moving average is $11.14 and its 200 day simple moving average is $9.91.

Ivanhoe Mines (OTCMKTS:IVPAF) last released its quarterly earnings data 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. The company had revenue of $129.40 million for 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 5.99%.

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.