Ivanhoe Mines (OTCMKTS:IVPAF) Shares Gap Down - Time to Sell?

Key Points

• Ivanhoe Mines' stock gapped down from $9.88 to $9.61 before the market opened, with the last traded price at $9.62 and a trading volume of 25,062 shares.
• Five analysts have given Ivanhoe Mines a "Strong Buy" rating, while one has issued a Hold rating, reflecting a generally positive outlook on the stock.
• In the latest quarterly earnings report, Ivanhoe Mines missed earnings expectations with an EPS of $0.03 compared to the consensus estimate of $0.04.

Ivanhoe Mines Ltd. (OTCMKTS:IVPAF - Get Free Report)'s share price gapped down prior to trading on Thursday . The stock had previously closed at $9.88, but opened at $9.61. Ivanhoe Mines shares last traded at $9.62, with a volume of 25,062 shares trading hands.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the company. Scotiabank cut Ivanhoe Mines from a "strong-buy" rating to a "hold" rating in a research report on Thursday, June 12th. Stifel Canada upgraded Ivanhoe Mines to a "strong-buy" rating in a report on Tuesday, July 8th. Canaccord Genuity Group upgraded Ivanhoe Mines to a "strong-buy" rating in a report on Friday, June 13th. TD Securities raised shares of Ivanhoe Mines to a "strong-buy" rating in a report on Tuesday, June 3rd. Finally, Raymond James Financial raised shares of Ivanhoe Mines to a "moderate buy" rating in a report on Monday, June 30th. Five equities research analysts have rated the stock with a Strong Buy rating and one has given a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of "Strong Buy".

Ivanhoe Mines Stock Performance

The company has a 50 day moving average price of $8.51 and a two-hundred day moving average price of $8.68. The firm has a market capitalization of $12.78 billion and a price-to-earnings ratio of 19.08.

Ivanhoe Mines (OTCMKTS:IVPAF - Get Free Report) last announced its quarterly earnings data on Wednesday, July 30th. The company reported $0.03 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.04 by ($0.01). The company had revenue of $96.76 million for 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.