Ivanhoe Mines (OTCMKTS:IVPAF) Shares Up 5.2% - Here's Why

Key Points

• Ivanhoe Mines Ltd. shares increased by 5.2%, reaching $9.79, marking a notable rise after previously closing at $9.31, despite an 88% drop in trading volume.
• Analysts have given the stock a consensus rating of "Strong Buy", with multiple upgrades from firms including Stifel Canada and Citigroup.
• The company reported earnings of $0.03 per share for the last quarter, missing the consensus estimate of $0.04, alongside a revenue of $96.76 million compared to expectations of $101.84 million.

Ivanhoe Mines Ltd. (OTCMKTS:IVPAF - Get Free Report) shares shot up 5.2% during mid-day trading on Tuesday . The company traded as high as $9.79 and last traded at $9.79. 37,624 shares were traded during trading, a decline of 88% from the average session volume of 317,220 shares. The stock had previously closed at $9.31.

Analyst Upgrades and Downgrades

IVPAF has been the subject of a number of analyst reports. UBS Group upgraded shares of Ivanhoe Mines to a "strong-buy" rating in a report on Thursday, June 12th. Canaccord Genuity Group upgraded shares of Ivanhoe Mines to a "strong-buy" rating in a research report on Friday, June 13th. TD Securities upgraded Ivanhoe Mines to a "strong-buy" rating in a report on Tuesday, June 3rd. Citigroup upgraded Ivanhoe Mines to a "strong-buy" rating in a report on Monday, June 16th. Finally, Raymond James Financial upgraded 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 company. According to MarketBeat.com, the company has a consensus rating of "Strong Buy".

Ivanhoe Mines Stock Up 4.3%

The stock's fifty day moving average is $8.51 and its two-hundred day moving average is $8.70. The firm has a market capitalization of $13.05 billion and a price-to-earnings ratio of 19.49.

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