Ivanhoe Mines (OTCMKTS:IVPAF) Raised to “Strong-Buy” at Canaccord Genuity Group

Ivanhoe Mines (OTCMKTS:IVPAF) was upgraded by analysts at Canaccord Genuity Group from a “hold” rating to a “strong-buy” rating in a report released on Monday,Zacks.com reports.

A number of other research analysts have also recently commented on IVPAF. Scotiabank restated a “sector perform” rating on shares of Ivanhoe Mines in a research note on Monday, June 15th. Raymond James Financial downgraded Ivanhoe Mines from a “moderate buy” rating to a “hold” rating in a report on Wednesday, April 1st. Royal Bank Of Canada lowered Ivanhoe Mines from a “moderate buy” rating to a “hold” rating in a research report on Monday, April 6th. Morgan Stanley upgraded Ivanhoe Mines from a “negative” rating to an “overweight” rating in a report on Wednesday, July 8th. Finally, Jefferies Financial Group reaffirmed a “hold” rating on shares of Ivanhoe Mines in a research report on Monday, July 6th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Ivanhoe Mines currently has an average rating of “Moderate Buy” and an average target price of $15.20.

Ivanhoe Mines Stock Performance

Shares of IVPAF stock opened at $7.64 on Monday. The company has a current ratio of 2.33, a quick ratio of 2.16 and a debt-to-equity ratio of 0.17. The company has a market cap of $10.90 billion, a PE ratio of 84.95 and a beta of 0.90. The company’s fifty day simple moving average is $8.08 and its 200-day simple moving average is $9.50. Ivanhoe Mines has a 52 week low of $6.75 and a 52 week high of $15.00.

Ivanhoe Mines (OTCMKTS:IVPAF) last announced its quarterly earnings results on Wednesday, May 6th. The company reported $0.11 earnings per share for the quarter, topping analysts’ consensus estimates of $0.06 by $0.05. Ivanhoe Mines had a net margin of 24.86% and a return on equity of 5.14%. The firm had revenue of $165.53 million during the quarter, compared to analysts’ expectations of $186.31 million. As a group, equities research analysts anticipate that Ivanhoe Mines will post 0.32 EPS for the current year.

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.