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

Key Points

• Ivanhoe Mines Ltd. has received a consensus recommendation of "Strong Buy" from six rating firms, with five analysts specifically endorsing this recommendation.
• The company's stock price opened at $8.84 and has a market capitalization of $11.97 billion, indicating a strong position in the mining sector.
• In its latest quarterly earnings report, Ivanhoe Mines reported $0.03 EPS, missing analysts' expectations of $0.04 EPS, and generated revenues of $96.76 million, below the forecasted $101.84 million.

Ivanhoe Mines Ltd. (OTCMKTS:IVPAF - Get Free Report) has received a consensus recommendation of "Strong Buy" from the six brokerages that are covering the firm, MarketBeat reports. One analyst has rated the stock with a hold rating and five have assigned a strong buy rating to the company.

A number of research analysts have recently weighed in on the company. Citigroup upgraded Ivanhoe Mines to a "strong-buy" rating in a research report on Monday, June 16th. Raymond James Financial upgraded Ivanhoe Mines to a "moderate buy" rating in a research report on Monday, June 30th. Canaccord Genuity Group upgraded Ivanhoe Mines to a "strong-buy" rating in a research report on Friday, June 13th. Scotiabank cut Ivanhoe Mines from a "strong-buy" rating to a "hold" rating in a research report on Thursday, June 12th. Finally, Stifel Canada upgraded Ivanhoe Mines to a "strong-buy" rating in a research report on Tuesday, July 8th.

Ivanhoe Mines Trading Up 2.7%

Shares of IVPAF stock traded up $0.24 during mid-day trading on Monday, reaching $9.02. The stock had a trading volume of 283,660 shares, compared to its average volume of 236,652. Ivanhoe Mines has a 12-month low of $6.50 and a 12-month high of $15.53. The company has a market cap of $12.21 billion and a P/E ratio of 18.23. The business has a 50-day simple moving average of $8.13 and a 200 day simple moving average of $8.79.

Ivanhoe Mines (OTCMKTS:IVPAF - Get Free Report) last announced its quarterly earnings results on Wednesday, July 30th. The company reported $0.03 earnings per share for the quarter, missing analysts' consensus estimates of $0.04 by ($0.01). The firm had revenue of $96.76 million during the quarter, compared to analyst estimates of $101.84 million.

About Ivanhoe Mines

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.