Ivanhoe Mines (OTCMKTS:IVPAF) Reaches New 12-Month Low – Here’s Why

Ivanhoe Mines Ltd. (OTCMKTS:IVPAF) reached a new 52-week low during trading on Thursday. The stock traded as low as $6.38 and last traded at $6.4441, with a volume of 67,430 shares trading hands. The stock had previously closed at $6.80.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on IVPAF. Canaccord Genuity Group upgraded Ivanhoe Mines from a “hold” rating to a “strong-buy” rating in a report on Monday, July 20th. Citigroup reaffirmed a “buy” rating on shares of Ivanhoe Mines in a report on Wednesday, October 14th. Morgan Stanley reissued an “overweight” rating on shares of Ivanhoe Mines in a research note on Wednesday, October 7th. Jefferies Financial Group restated a “hold” rating on shares of Ivanhoe Mines in a research report on Monday, July 6th. Finally, Scotiabank reaffirmed a “sector perform” rating on shares of Ivanhoe Mines in a research note on Wednesday, September 9th. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $15.20.

Ivanhoe Mines Stock Performance

The company has a quick ratio of 1.89, a current ratio of 2.16 and a debt-to-equity ratio of 0.18. The firm has a 50-day moving average price of $8.35 and a 200 day moving average price of $8.22. The firm has a market capitalization of $9.34 billion, a PE ratio of 72.78 and a beta of 1.08.

Ivanhoe Mines (OTCMKTS:IVPAF) last issued its quarterly 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 5.07%. The business had revenue of $152.61 million during the quarter, compared to analysts’ expectations of $202.11 million. Research analysts expect that Ivanhoe Mines Ltd. will post 0.30 earnings per share for the current year.

Ivanhoe Mines Company Profile

Ivanhoe Mines Ltd. is a Canadian mining and mineral exploration company focused on developing and operating large-scale projects in Africa. Its principal commodities include copper, zinc, platinum-group metals, nickel, copper and gold.

The company’s flagship Kamoa-Kakula Copper Complex in the Democratic Republic of the Congo is being developed as a major copper mining and processing operation. Ivanhoe also holds the Kipushi zinc-copper-silver-germanium mine in the Democratic Republic of the Congo, as well as the Platreef platinum-group metals, nickel, copper and gold project in South Africa.

Ivanhoe’s exploration portfolio includes the Western Foreland project in the Democratic Republic of the Congo, an extensive exploration area near Kamoa-Kakula.