Ivanhoe Mines (OTCMKTS:IVPAF) Cut to "Hold" at Scotiabank

Scotiabank downgraded shares of Ivanhoe Mines (OTCMKTS:IVPAF - Free Report) from a strong-buy rating to a hold rating in a research report report published on Thursday,Zacks.com reports.

Separately, TD Securities raised Ivanhoe Mines to a "strong-buy" rating in a research note on Tuesday, June 3rd.

Ivanhoe Mines Trading Down 0.7%

Ivanhoe Mines stock traded down $0.05 during trading on Thursday, reaching $7.27. The company had a trading volume of 536,780 shares, compared to its average volume of 337,759. The firm has a market capitalization of $9.84 billion and a price-to-earnings ratio of 14.70. The firm's 50-day simple moving average is $8.94 and its 200 day simple moving average is $10.41. Ivanhoe Mines has a 52 week low of $6.50 and a 52 week high of $15.53.

Ivanhoe Mines (OTCMKTS:IVPAF - Get Free Report) last issued its quarterly earnings results 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 firm 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.