Ivanhoe Mines Ltd. (OTCMKTS:IVPAF) Receives Average Recommendation of "Moderate Buy" from Brokerages

Key Points

• Analyst consensus is “Moderate Buy”: Of eight analysts, four recommend holding the stock, three recommend buying, and one gives it a strong-buy rating. The average 12-month price target is $15.20.
• Recent analyst sentiment improved, with Morgan Stanley upgrading Ivanhoe Mines to “overweight” and Canaccord Genuity Group raising its rating to “strong buy,” while Scotiabank and Jefferies maintained “hold” or equivalent ratings.
• Quarterly results fell short of expectations: Ivanhoe Mines reported EPS of $0.03 versus the $0.06 consensus and revenue of $152.61 million versus estimates of $202.11 million. Shares opened at $9.23, within a 52-week range of $6.75 to $15.00.

Shares of Ivanhoe Mines Ltd. (OTCMKTS:IVPAF - Get Free Report) have received an average recommendation of "Moderate Buy" from the eight analysts that are currently covering the company, MarketBeat.com reports. Four analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $15.20.

A number of brokerages have weighed in on IVPAF. Morgan Stanley raised Ivanhoe Mines from a "negative" rating to an "overweight" rating in a research report on Wednesday, July 8th. Canaccord Genuity Group raised shares of Ivanhoe Mines from a "hold" rating to a "strong-buy" rating in a report on Monday, July 20th. Scotiabank reiterated a "sector perform" rating on shares of Ivanhoe Mines in a research note on Wednesday. Finally, Jefferies Financial Group reissued a "hold" rating on shares of Ivanhoe Mines in a report on Monday, July 6th.

Ivanhoe Mines Price Performance

Shares of IVPAF opened at $9.23 on Friday. Ivanhoe Mines has a twelve month low of $6.75 and a twelve month high of $15.00. The company has a market capitalization of $13.17 billion, a P/E ratio of 102.56 and a beta of 1.03. The firm has a 50 day moving average of $8.06 and a 200 day moving average of $8.47. The company has a quick ratio of 1.89, a current ratio of 2.16 and a debt-to-equity ratio of 0.18.

Ivanhoe Mines (OTCMKTS:IVPAF - Get Free Report) last announced its quarterly earnings results on Wednesday, July 29th. The company reported $0.03 earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 for the quarter, compared to the consensus estimate of $202.11 million. As a group, equities research analysts anticipate that Ivanhoe Mines will post 0.3 earnings per share for the current fiscal year.

About Ivanhoe Mines

Ivanhoe Mines Ltd. is a Canadian mining company focused on the exploration, development and operation of mineral resources in Africa. Its primary 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 large-scale, high-grade copper operation. Ivanhoe Mines also operates the Kipushi zinc-copper-germanium mine in the Democratic Republic of the Congo and is developing the Platreef project, a platinum-group metals, nickel, copper and gold discovery in South Africa's Limpopo province.

Ivanhoe Mines was founded by mining entrepreneur Robert Friedland, who serves as executive co-chairman.

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