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

Ivanhoe Mines Ltd. (OTCMKTS:IVPAF) has received a consensus recommendation of “Buy” from the seven analysts that are covering the company, Marketbeat.com reports. Four equities research analysts have rated the stock with a buy rating and three have given a strong buy rating to the company.

IVPAF has been the subject of a number of analyst reports. Stifel Canada raised shares of Ivanhoe Mines to a “strong-buy” rating in a research note on Tuesday, July 8th. Raymond James Financial upgraded shares of Ivanhoe Mines to a “moderate buy” rating in a research report on Monday, June 30th. Citigroup restated a “buy” rating on shares of Ivanhoe Mines in a research report on Wednesday, October 8th. Scotiabank upgraded shares of Ivanhoe Mines from a “hold” rating to an “outperform” rating in a research report on Monday, September 29th. Finally, TD Securities restated a “buy” rating on shares of Ivanhoe Mines in a research report on Monday, September 29th.

Ivanhoe Mines Stock Up 3.0%

Ivanhoe Mines stock opened at $10.83 on Tuesday. The firm has a 50-day moving average price of $9.56 and a two-hundred day moving average price of $8.84. The firm has a market capitalization of $15.37 billion and a price-to-earnings ratio of 21.89. Ivanhoe Mines has a 52-week low of $6.50 and a 52-week high of $15.00.

Ivanhoe Mines (OTCMKTS:IVPAF) last posted its earnings results on Wednesday, July 30th. The company reported $0.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.01). The business had revenue of $96.76 million for the quarter, compared to analysts’ expectations of $101.84 million.

Ivanhoe Mines Company Profile

Ivanhoe Mines Ltd. engages in the mining, development, and exploration of minerals and precious metals primarily in Africa. It explores for platinum, palladium, nickel, copper, gold, rhodium, zinc, silver, germanium, and lead deposits. The company's projects include the Platreef project located in the Northern Limb of South Africa's Bushveld Complex; the Kipushi project located in Haut-Katanga Province, Democratic Republic of Congo; and the Kamoa-Kakula project located within the Central African Copperbelt.