Ivanhoe Mines (OTCMKTS:IVPAF) Downgraded by Raymond James Financial to Hold

Key Points

• Raymond James downgraded Ivanhoe Mines from "moderate buy" to "hold," joining other recent downgrades; the stock's consensus remains a Moderate Buy with an average price target of $15.20.
• Shares were down 11.1%, opening at $7.58, trading in a 12-month range of $6.50–$15.00 with a market cap of $10.81 billion and a P/E of 39.90.
• Ivanhoe reported quarterly EPS of $0.04 (in line with estimates) but missed on revenue at $138.42 million versus $189.75 million expected.

Ivanhoe Mines (OTCMKTS:IVPAF - Get Free Report) was downgraded by equities researchers at Raymond James Financial from a "moderate buy" rating to a "hold" rating in a research report issued on Wednesday,Zacks.com reports.

Several other analysts also recently commented on IVPAF. Jefferies Financial Group downgraded shares of Ivanhoe Mines from a "buy" rating to a "hold" rating in a research report on Sunday, December 7th. Morgan Stanley set a $15.20 target price on shares of Ivanhoe Mines in a report on Monday, December 15th. Scotiabank reiterated an "outperform" rating on shares of Ivanhoe Mines in a research note on Monday, January 26th. Finally, Canaccord Genuity Group cut shares of Ivanhoe Mines from a "strong-buy" rating to a "hold" rating in a report on Friday, February 20th. Two investment analysts have rated the stock with a Strong Buy rating, three have given a Buy rating and four have issued a Hold rating to the company's stock. According to data from MarketBeat.com, Ivanhoe Mines presently has a consensus rating of "Moderate Buy" and an average price target of $15.20.

Ivanhoe Mines Stock Down 11.1%

Shares of OTCMKTS:IVPAF opened at $7.58 on Wednesday. The company has a current ratio of 2.23, a quick ratio of 2.10 and a debt-to-equity ratio of 0.16. The stock has a fifty day simple moving average of $10.82 and a two-hundred day simple moving average of $10.57. Ivanhoe Mines has a 12-month low of $6.50 and a 12-month high of $15.00. The stock has a market capitalization of $10.81 billion and a price-to-earnings ratio of 39.90.

Ivanhoe Mines (OTCMKTS:IVPAF - Get Free Report) last released its earnings results on Wednesday, February 18th. The company reported $0.04 EPS for the quarter, hitting analysts' consensus estimates of $0.04. Ivanhoe Mines had a return on equity of 4.90% and a net margin of 59.23%.The firm had revenue of $138.42 million for the quarter, compared to analysts' expectations of $189.75 million.

Ivanhoe Mines Company Profile

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.

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