Ivanhoe Mines Ltd. (OTCMKTS:IVPAF - Get Free Report) shares crossed below its 200-day moving average during trading on Thursday following a weaker than expected earnings announcement. The stock has a 200-day moving average of $9.32 and traded as low as $7.75. Ivanhoe Mines shares last traded at $7.81, with a volume of 214,854 shares trading hands.
The company reported $0.03 earnings per share for the quarter, missing the consensus estimate of $0.04 by ($0.01). The company had revenue of $96.76 million for the quarter, compared to the consensus estimate of $101.84 million.
Wall Street Analysts Forecast Growth
Several brokerages have recently weighed in on IVPAF. Raymond James Financial upgraded shares of Ivanhoe Mines to a "moderate buy" rating in a research note on Monday, June 30th. Canaccord Genuity Group upgraded shares of Ivanhoe Mines to a "strong-buy" rating in a research report on Friday, June 13th. TD Securities upgraded shares of Ivanhoe Mines to a "strong-buy" rating in a research report on Tuesday, June 3rd. Citigroup upgraded shares of Ivanhoe Mines to a "strong-buy" rating in a research report on Monday, June 16th. Finally, Stifel Canada upgraded shares of Ivanhoe Mines to a "strong-buy" rating in a research report on Tuesday, July 8th. One investment analyst has rated the stock with a hold rating and five have issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Strong Buy".
View Our Latest Research Report on Ivanhoe Mines
Ivanhoe Mines Stock Down 1.7%
The stock has a market cap of $10.57 billion and a price-to-earnings ratio of 15.79. The stock's 50 day moving average price is $7.97 and its two-hundred day moving average price is $9.32.
Ivanhoe Mines Company Profile
(
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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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