Ivanhoe Mines (OTCMKTS:IVPAF) Shares Gap Up - Here's What Happened

Key Points

• Ivanhoe Mines shares opened higher, rising from a prior close of $8.28 to $8.64 before trading at $8.35 on volume of 20,889 shares.
• Analyst sentiment is generally positive: the stock has a “Moderate Buy” consensus rating and an average price target of $15.20, with Morgan Stanley and Canaccord Genuity recently upgrading their ratings.
• The company’s latest quarterly results fell short of expectations, reporting EPS of $0.03 versus $0.06 expected and revenue of $152.61 million versus a $202.11 million consensus estimate.

Ivanhoe Mines Ltd. (OTCMKTS:IVPAF - Get Free Report) gapped up prior to trading on Monday . The stock had previously closed at $8.28, but opened at $8.64. Ivanhoe Mines shares last traded at $8.35, with a volume of 20,889 shares changing hands.

Analyst Ratings Changes

Several brokerages recently weighed in on IVPAF. Scotiabank reaffirmed a "sector perform" rating on shares of Ivanhoe Mines in a research report on Monday, June 15th. Morgan Stanley upgraded shares of Ivanhoe Mines from a "negative" rating to an "overweight" rating in a report on Wednesday, July 8th. Jefferies Financial Group reaffirmed a "hold" rating on shares of Ivanhoe Mines in a research note on Monday, July 6th. Finally, Canaccord Genuity Group upgraded shares of Ivanhoe Mines from a "hold" rating to a "strong-buy" rating in a report on Monday, July 20th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, Ivanhoe Mines presently has an average rating of "Moderate Buy" and an average target price of $15.20.

Ivanhoe Mines Price Performance

The stock has a 50 day moving average of $7.84 and a two-hundred day moving average of $9.12. The company has a debt-to-equity ratio of 0.17, a quick ratio of 2.16 and a current ratio of 2.33. The firm has a market capitalization of $11.91 billion, a P/E ratio of 92.79 and a beta of 0.98.

Ivanhoe Mines (OTCMKTS:IVPAF - Get Free Report) last announced its earnings results on Wednesday, July 29th. The company reported $0.03 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.06 by ($0.03). Ivanhoe Mines had a return on equity of 5.10% and a net margin of 23.47%.The company had revenue of $152.61 million for the quarter, compared to the consensus estimate of $202.11 million. Sell-side analysts predict that Ivanhoe Mines Ltd. will post 0.31 earnings per share for the current fiscal year.

Ivanhoe Mines Company Profile

Ivanhoe Mines is a Canada-based mineral exploration and development company focused on unlocking high-value deposits of copper, nickel, zinc, and platinum-group metals. The company pursues a two-pronged strategy of advancing large-scale mining projects through feasibility and development stages while also expanding its exploration footprint. Ivanhoe's technical expertise spans geology, engineering, environmental management, and community relations, enabling it to secure the necessary permits and infrastructure for major mine developments.

The company's flagship asset is the Kamoa-Kakula copper complex in the Democratic Republic of Congo (DRC), a joint venture with the government of the DRC and Zijin Mining.

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