Ivanhoe Mines Ltd. (OTCMKTS:IVPAF) Stock Has Average Price Target of $15.20

Key Points

• Analysts give Ivanhoe Mines a “Moderate Buy” consensus, with two buy ratings, one strong-buy rating and four holds. The average 12-month price target is $15.20, compared with a recent share price of $8.61.
• The company reported quarterly EPS of $0.03, below the $0.06 consensus estimate, while revenue of $152.61 million missed the $202.11 million forecast.
• Ivanhoe Mines operates and develops major mining assets in Africa, including the Kamoa-Kakula copper complex and Kipushi zinc-copper-germanium-lead mine in the Democratic Republic of the Congo, as well as the Platreef project in South Africa.

Ivanhoe Mines Ltd. (OTCMKTS:IVPAF - Get Free Report) has been given an average rating of "Moderate Buy" by the seven brokerages that are covering the stock, MarketBeat Ratings reports. Four equities research analysts have rated the stock with a hold recommendation, two have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price target among analysts that have covered the stock in the last year is $15.20.

Several equities research analysts have weighed in on the stock. Canaccord Genuity Group upgraded shares of Ivanhoe Mines from a "hold" rating to a "strong-buy" rating in a report on Monday, July 20th. Jefferies Financial Group reaffirmed a "hold" rating on shares of Ivanhoe Mines in a research note on Monday, July 6th. Morgan Stanley upgraded Ivanhoe Mines from a "negative" rating to an "overweight" rating in a report on Wednesday, July 8th. Finally, Scotiabank reissued a "sector perform" rating on shares of Ivanhoe Mines in a research note on Wednesday, September 9th.

Ivanhoe Mines Price Performance

Shares of IVPAF opened at $8.61 on Tuesday. The stock has a market cap of $12.28 billion, a P/E ratio of 95.67 and a beta of 1.08. Ivanhoe Mines has a 1 year low of $6.75 and a 1 year high of $15.00. The stock's 50-day moving average price is $8.47 and its two-hundred day moving average price is $8.27. The company has a current ratio of 2.16, a quick ratio of 1.89 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 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 company had revenue of $152.61 million during the quarter, compared to the consensus estimate of $202.11 million. On average, equities analysts predict that Ivanhoe Mines will post 0.3 earnings per share for the current year.

About Ivanhoe Mines

Ivanhoe Mines Ltd. is a Canadian mining and mineral exploration company headquartered in Vancouver, British Columbia. The company focuses on the discovery, development and operation of mineral projects, with an emphasis on copper, zinc, nickel and platinum-group metals.

Its principal asset is the Kamoa-Kakula Copper Complex in the Democratic Republic of the Congo, one of the company's flagship copper development and production projects. Ivanhoe Mines also operates the Kipushi zinc-copper-germanium-lead mine in the Democratic Republic of the Congo and is developing the Platreef project in South Africa, which is expected to produce nickel, copper, platinum, palladium, rhodium and gold.

Ivanhoe Mines was founded in 1993 by mining entrepreneur Robert Friedland and has built a portfolio concentrated in Southern and Central Africa.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.