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

Ivanhoe Mines Ltd. (OTCMKTS:IVPAF - Get Free Report) has earned an average recommendation of "Strong Buy" from the five research firms that are covering the stock, MarketBeat reports. One investment analyst has rated the stock with a hold rating and four have assigned a strong buy rating to the company.

Several research firms have recently weighed in on IVPAF. Citigroup raised shares of Ivanhoe Mines to a "strong-buy" rating in a report on Monday, June 16th. TD Securities upgraded shares of Ivanhoe Mines to a "strong-buy" rating in a research report on Tuesday, June 3rd. Canaccord Genuity Group upgraded shares of Ivanhoe Mines to a "strong-buy" rating in a research report on Friday, June 13th. Scotiabank lowered shares of Ivanhoe Mines from a "strong-buy" rating to a "hold" rating in a research report on Thursday, June 12th. Finally, UBS Group upgraded shares of Ivanhoe Mines to a "strong-buy" rating in a research report on Thursday, June 12th.

Ivanhoe Mines Stock Performance

Shares of IVPAF traded down $0.37 during mid-day trading on Wednesday, hitting $7.32. 383,416 shares of the company traded hands, compared to its average volume of 532,666. The stock has a 50-day moving average price of $8.89 and a two-hundred day moving average price of $10.18. Ivanhoe Mines has a 1 year low of $6.50 and a 1 year high of $15.53. The stock has a market cap of $9.91 billion and a price-to-earnings ratio of 14.80.

Ivanhoe Mines (OTCMKTS:IVPAF - Get Free Report) last released its quarterly earnings data on Wednesday, April 30th. The company reported $0.10 earnings per share for the quarter, beating the consensus estimate of $0.07 by $0.03. The company had revenue of $77.02 million for the quarter, compared to analysts' expectations of $108.71 million.

Ivanhoe Mines Company Profile

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.