Ivanhoe Mines Ltd. (OTCMKTS:IVPAF) Receives Average Recommendation of “Buy” from Brokerages

Shares of Ivanhoe Mines Ltd. (OTCMKTS:IVPAF) have been assigned a consensus recommendation of “Buy” from the nine ratings firms that are currently covering the firm, Marketbeat reports. Two analysts have rated the stock with a hold rating, five have given a buy rating and two have given a strong buy rating to the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $15.20.

A number of research firms have recently commented on IVPAF. Raymond James Financial reissued an “outperform” rating on shares of Ivanhoe Mines in a report on Wednesday, January 14th. Scotiabank reaffirmed an “outperform” rating on shares of Ivanhoe Mines in a research note on Monday, January 26th. Morgan Stanley set a $15.20 target price on Ivanhoe Mines in a research report on Monday, December 15th. Jefferies Financial Group downgraded Ivanhoe Mines from a “buy” rating to a “hold” rating in a research note on Sunday, December 7th. Finally, Canaccord Genuity Group downgraded shares of Ivanhoe Mines from a “strong-buy” rating to a “hold” rating in a research note on Friday, February 20th.

Ivanhoe Mines Trading Down 2.2%

Shares of OTCMKTS:IVPAF opened at $8.13 on Friday. Ivanhoe Mines has a 52-week low of $6.50 and a 52-week high of $15.00. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.10 and a current ratio of 2.23. The company has a market capitalization of $11.59 billion and a P/E ratio of 42.80. The company has a 50-day simple moving average of $11.25 and a 200 day simple moving average of $10.62.

Ivanhoe Mines (OTCMKTS:IVPAF) last released its quarterly earnings data on Wednesday, February 18th. The company reported $0.04 EPS for the quarter, meeting the consensus estimate of $0.04. The firm had revenue of $138.42 million for the quarter, compared to the consensus estimate of $189.75 million. Ivanhoe Mines had a net margin of 59.23% and a return on equity of 4.90%.

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.