Ivanhoe Mines Ltd. (OTCMKTS:IVPAF - Get Free Report)'s share price passed below its 200-day moving average during trading on Thursday following a dissappointing 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 (EPS) for the quarter, missing analysts' consensus estimates of $0.04 by ($0.01). The business had revenue of $96.76 million for the quarter, compared to analysts' expectations of $101.84 million.
Wall Street Analysts Forecast Growth
A number of research firms have issued reports on IVPAF. Raymond James Financial raised shares of Ivanhoe Mines to a "moderate buy" rating in a report on Monday, June 30th. Citigroup raised shares of Ivanhoe Mines to a "strong-buy" rating in a report on Monday, June 16th. Canaccord Genuity Group raised shares of Ivanhoe Mines to a "strong-buy" rating in a report on Friday, June 13th. Scotiabank lowered shares of Ivanhoe Mines from a "strong-buy" rating to a "hold" rating in a research report on Thursday, June 12th. Finally, Royal Bank Of Canada upgraded shares of Ivanhoe Mines to a "moderate buy" rating in a research report on Tuesday, June 17th. One research analyst has rated the stock with a hold rating and five have issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Strong Buy".
Check Out Our Latest Research Report on Ivanhoe Mines
Ivanhoe Mines Stock Up 2.9%
The business's fifty day moving average is $7.91 and its two-hundred day moving average is $9.25. The stock has a market capitalization of $10.76 billion and a PE ratio of 16.06.
Ivanhoe Mines Company Profile
(
Get Free Report)
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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