Ivanhoe Mines (OTCMKTS:IVPAF) Shares Gap Up – Should You Buy?

Ivanhoe Mines Ltd. (OTCMKTS:IVPAF) gapped up prior to trading on Monday . The stock had previously closed at $8.28, but opened at $8.64. Ivanhoe Mines shares last traded at $8.35, with a volume of 20,889 shares traded.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on IVPAF. Scotiabank reaffirmed a “sector perform” rating on shares of Ivanhoe Mines in a research report on Monday, June 15th. Morgan Stanley upgraded Ivanhoe Mines from a “negative” rating to an “overweight” rating in a research report on Wednesday, July 8th. Canaccord Genuity Group raised Ivanhoe Mines from a “hold” rating to a “strong-buy” rating in a research note on Monday, July 20th. Finally, Jefferies Financial Group restated a “hold” rating on shares of Ivanhoe Mines in a report on Monday, July 6th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $15.20.

Ivanhoe Mines Stock Up 1.4%

The business’s 50 day moving average is $7.81 and its 200 day moving average is $9.08. The company has a debt-to-equity ratio of 0.17, a quick ratio of 2.16 and a current ratio of 2.33. The stock has a market cap of $12.17 billion, a price-to-earnings ratio of 94.82 and a beta of 0.97.

Ivanhoe Mines (OTCMKTS:IVPAF) last posted its quarterly earnings data on Wednesday, July 29th. The company reported $0.03 earnings per share for the quarter, missing the consensus estimate of $0.06 by ($0.03). The firm had revenue of $152.61 million for the quarter, compared to analysts’ expectations of $202.11 million. Ivanhoe Mines had a return on equity of 5.10% and a net margin of 23.47%. Equities analysts expect that Ivanhoe Mines Ltd. will post 0.31 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.