Ivanhoe Mines (OTCMKTS:IVPAF) Shares Gap Up – Time to Buy?

Ivanhoe Mines Ltd. (OTCMKTS:IVPAF)’s share price gapped up before the market opened on Wednesday . The stock had previously closed at $8.2194, but opened at $8.64. Ivanhoe Mines shares last traded at $8.25, with a volume of 3,158 shares changing hands.

Analysts Set New Price Targets

A number of brokerages have issued reports on IVPAF. Canaccord Genuity Group downgraded shares of Ivanhoe Mines from a “strong-buy” rating to a “hold” rating in a research report on Friday, February 20th. Scotiabank reissued a “sector perform” rating on shares of Ivanhoe Mines in a research report on Friday, May 8th. Raymond James Financial downgraded shares of Ivanhoe Mines from a “moderate buy” rating to a “hold” rating in a research report on Wednesday, April 1st. Finally, Royal Bank Of Canada downgraded shares of Ivanhoe Mines from a “moderate buy” rating to a “hold” rating in a research report on Monday, April 6th. Two analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $15.20.

Ivanhoe Mines Trading Up 0.9%

The stock has a market cap of $11.80 billion and a P/E ratio of 91.90. The company has a current ratio of 2.23, a quick ratio of 2.10 and a debt-to-equity ratio of 0.16. The stock’s fifty day moving average price is $8.46 and its 200 day moving average price is $10.10.

Ivanhoe Mines (OTCMKTS:IVPAF) last announced its earnings results on Wednesday, May 6th. The company reported $0.11 EPS for the quarter, beating analysts’ consensus estimates of $0.06 by $0.05. Ivanhoe Mines had a net margin of 24.86% and a return on equity of 5.20%. The firm had revenue of $165.53 million for the quarter, compared to analysts’ expectations of $186.31 million. Equities research analysts expect that Ivanhoe Mines Ltd. will post 0.24 earnings per share 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.