Ivanhoe Mines (OTCMKTS:IVPAF) Stock Price Up 7.1% – Time to Buy?

Ivanhoe Mines Ltd. (OTCMKTS:IVPAF)’s share price traded up 7.1% during mid-day trading on Friday . The stock traded as high as $8.88 and last traded at $8.88. 55,145 shares changed hands during trading, a decline of 88% from the average daily volume of 467,078 shares. The stock had previously closed at $8.29.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on IVPAF shares. Scotiabank reissued a “sector perform” rating on shares of Ivanhoe Mines in a research report on Monday, June 15th. Canaccord Genuity Group upgraded shares of Ivanhoe Mines from a “hold” rating to a “strong-buy” rating in a research report on Monday, July 20th. Morgan Stanley raised Ivanhoe Mines from a “negative” rating to an “overweight” rating in a research report on Wednesday, July 8th. Finally, Jefferies Financial Group restated a “hold” rating on shares of Ivanhoe Mines in a research note on Monday, July 6th. One research 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. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $15.20.

Ivanhoe Mines Price Performance

The firm has a market cap of $12.77 billion, a P/E ratio of 99.44 and a beta of 0.97. The company has a debt-to-equity ratio of 0.17, a current ratio of 2.33 and a quick ratio of 2.16. The company’s 50-day moving average is $7.81 and its two-hundred day moving average is $8.85.

Ivanhoe Mines (OTCMKTS:IVPAF) last issued its earnings results on Wednesday, July 29th. The company reported $0.03 EPS for the quarter, missing the consensus estimate of $0.06 by ($0.03). Ivanhoe Mines had a net margin of 23.47% and a return on equity of 5.10%. The firm had revenue of $152.61 million during the quarter, compared to analyst estimates of $202.11 million. Sell-side analysts anticipate that Ivanhoe Mines Ltd. will post 0.31 EPS for the current fiscal 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.