Ivanhoe Mines (OTCMKTS:IVPAF) Trading Up 7.4% - Should You Buy?

Key Points

• Ivanhoe Mines Ltd. shares rose 7.4% in mid-day trading, reaching $10.89, despite a significant decline in trading volume, down 76% from average levels.
• Multiple analysts upgraded the stock recently, with Scotiabank and Stifel Canada giving it "outperform" and "strong-buy" ratings, contributing to a consensus rating of "Strong Buy."
• For the last quarter, Ivanhoe Mines reported an earnings per share of $0.03, missing expectations, with revenues of $96.76 million against an anticipated $101.84 million.

Ivanhoe Mines Ltd. (OTCMKTS:IVPAF - Get Free Report) shares were up 7.4% during mid-day trading on Monday . The company traded as high as $10.89 and last traded at $10.89. Approximately 77,991 shares changed hands during trading, a decline of 76% from the average daily volume of 326,539 shares. The stock had previously closed at $10.14.

Wall Street Analyst Weigh In

IVPAF has been the topic of a number of analyst reports. Scotiabank upgraded shares of Ivanhoe Mines from a "sector perform" rating to an "outperform" rating in a research report on Monday. Stifel Canada raised Ivanhoe Mines to a "strong-buy" rating in a research note on Tuesday, July 8th. Raymond James Financial raised shares of Ivanhoe Mines to a "moderate buy" rating in a research note on Monday, June 30th. Canaccord Genuity Group upgraded Ivanhoe Mines to a "strong-buy" rating in a report on Friday, June 13th. Finally, UBS Group upgraded Ivanhoe Mines to a "strong-buy" rating in a report on Thursday, June 12th. Four equities research analysts have rated the stock with a Strong Buy rating and two have assigned a Buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Strong Buy".

Ivanhoe Mines Trading Up 4.0%

The stock has a 50-day simple moving average of $8.70 and a 200-day simple moving average of $8.69. The company has a market capitalization of $14.28 billion and a price-to-earnings ratio of 21.31.

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

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