Ivanhoe Mines (OTCMKTS:IVPAF) Shares Cross Above 50 Day Moving Average - What's Next?

Key Points

• Ivanhoe Mines Ltd. shares have crossed above their fifty-day moving average, indicating strong trading activity with a last trading price of $10.83.
• Wall Street analysts have shown confidence as several firms upgraded their ratings for Ivanhoe Mines, with a consensus of "Strong Buy" from four analysts.
• Despite recent upgrades, the company reported a miss in EPS for the last quarter, posting $0.03 compared to the expected $0.04.

Ivanhoe Mines Ltd. (OTCMKTS:IVPAF - Get Free Report) shares passed above its fifty day moving average during trading on Monday . The stock has a fifty day moving average of $8.95 and traded as high as $11.18. Ivanhoe Mines shares last traded at $10.83, with a volume of 458,941 shares traded.

Wall Street Analysts Forecast Growth

IVPAF has been the topic of a number of research analyst reports. Canaccord Genuity Group upgraded Ivanhoe Mines to a "strong-buy" rating in a research report on Friday, June 13th. Royal Bank Of Canada raised Ivanhoe Mines to a "moderate buy" rating in a research note on Tuesday, June 17th. UBS Group upgraded shares of Ivanhoe Mines to a "strong-buy" rating in a research report on Thursday, June 12th. Scotiabank upgraded shares of Ivanhoe Mines from a "hold" rating to an "outperform" rating in a report on Monday, September 29th. Finally, TD Securities restated a "buy" rating on shares of Ivanhoe Mines in a research report on Monday, September 29th. Four research analysts have rated the stock with a Strong Buy rating and two have issued a Buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Strong Buy".

Ivanhoe Mines Trading Up 0.7%

The company has a market cap of $14.66 billion and a PE ratio of 21.89. The business has a 50 day simple moving average of $8.95 and a two-hundred day simple moving average of $8.71.

Ivanhoe Mines (OTCMKTS:IVPAF - Get Free Report) last released its earnings results on Wednesday, July 30th. The company reported $0.03 EPS for the quarter, missing the consensus estimate of $0.04 by ($0.01). The company had revenue of $96.76 million during the quarter, compared to analysts' expectations of $101.84 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.

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