Ivanhoe Mines (OTCMKTS:IVPAF) Releases Earnings Results, Misses Estimates By $0.01 EPS

Key Points

• Ivanhoe Mines reported quarterly earnings of $0.03 EPS, missing consensus estimates by $0.02.
• Shares fell by 1.9%, trading at $7.94, and the company's market capitalization is $10.75 billion.
• Multiple analysts upgraded Ivanhoe Mines' stock rating to "strong-buy," reflecting positive sentiment in the market.

Ivanhoe Mines (OTCMKTS:IVPAF - Get Free Report) announced its earnings results on Wednesday. The company reported $0.03 earnings per share for the quarter, missing the consensus estimate of $0.04 by ($0.01), Zacks reports. The company had revenue of $96.76 million for the quarter, compared to analysts' expectations of $101.84 million.

Ivanhoe Mines Price Performance

Shares of IVPAF traded down $0.09 during trading hours on Friday, reaching $7.72. 188,023 shares of the company's stock traded hands, compared to its average volume of 326,136. The business's fifty day simple moving average is $7.94 and its two-hundred day simple moving average is $9.29. Ivanhoe Mines has a twelve month low of $6.50 and a twelve month high of $15.53. The firm has a market capitalization of $10.45 billion and a price-to-earnings ratio of 15.61.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the stock. Citigroup raised shares of Ivanhoe Mines to a "strong-buy" rating in a research report on Monday, June 16th. Raymond James Financial raised shares of Ivanhoe Mines to a "moderate buy" rating in a research report on Monday, June 30th. Stifel Canada raised shares of Ivanhoe Mines to a "strong-buy" rating in a research report on Tuesday, July 8th. UBS Group raised shares of Ivanhoe Mines to a "strong-buy" rating in a research report on Thursday, June 12th. Finally, Scotiabank cut Ivanhoe Mines from a "strong-buy" rating to a "hold" rating in a report on Thursday, June 12th. One equities research analyst has rated the stock with a hold rating and five have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Strong Buy".

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.