Ivanhoe Mines (OTCMKTS:IVPAF) Downgraded to Hold Rating by Scotiabank

Key Points

• Scotiabank downgraded Ivanhoe Mines from a Strong-Buy to a Hold, joining other recent cuts by Canaccord, Jefferies and Raymond James, though the MarketBeat consensus remains a Moderate Buy with an average target of $15.20.
• Shares plunged about 11.1% to open at $7.58, trading well below its one‑year high of $15.00 and its 50‑/200‑day moving averages (~$10.8), with a market cap near $10.8 billion.
• In the latest quarter Ivanhoe reported EPS of $0.04 that met estimates, but revenue missed materially at $138.4M versus $189.8M expected, suggesting near‑term performance pressure.

Ivanhoe Mines (OTCMKTS:IVPAF - Get Free Report) was downgraded by research analysts at Scotiabank from a "strong-buy" rating to a "hold" rating in a report issued on Wednesday,Zacks.com reports.

Several other equities research analysts also recently weighed in on the company. Canaccord Genuity Group downgraded Ivanhoe Mines from a "strong-buy" rating to a "hold" rating in a report on Friday, February 20th. Morgan Stanley set a $15.20 price target on shares of Ivanhoe Mines in a research note on Monday, December 15th. Jefferies Financial Group cut shares of Ivanhoe Mines from a "buy" rating to a "hold" rating in a report on Sunday, December 7th. Finally, Raymond James Financial downgraded shares of Ivanhoe Mines from a "moderate buy" rating to a "hold" rating in a research report on Wednesday. Two research analysts have rated the stock with a Strong Buy rating, three have given a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $15.20.

Ivanhoe Mines Trading Down 11.1%

OTCMKTS IVPAF opened at $7.58 on Wednesday. The firm has a 50 day simple moving average of $10.82 and a 200-day simple moving average of $10.57. The firm has a market cap of $10.81 billion and a price-to-earnings ratio of 39.90. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.10 and a current ratio of 2.23. Ivanhoe Mines has a one year low of $6.50 and a one year high of $15.00.

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

About Ivanhoe Mines

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.

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.