Ivanhoe Mines (OTCMKTS:IVPAF) Stock Rating Upgraded by Citigroup

Ivanhoe Mines (OTCMKTS:IVPAF - Get Free Report) was upgraded by equities researchers at Citigroup to a "strong-buy" rating in a research note issued on Monday,Zacks.com reports.

A number of other equities research analysts also recently weighed in on IVPAF. UBS Group raised shares of Ivanhoe Mines to a "strong-buy" rating in a research report on Thursday, June 12th. TD Securities raised shares of Ivanhoe Mines to a "strong-buy" rating in a research report on Tuesday, June 3rd. Scotiabank downgraded shares of Ivanhoe Mines from a "strong-buy" rating to a "hold" rating in a research report on Thursday, June 12th. Finally, Canaccord Genuity Group raised shares of Ivanhoe Mines to a "strong-buy" rating in a research report on Friday, June 13th. One investment analyst has rated the stock with a hold rating and four have assigned a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Strong Buy".

Ivanhoe Mines Stock Down 4.8%

Shares of IVPAF traded down $0.37 during midday trading on Monday, hitting $7.32. The company had a trading volume of 383,416 shares, compared to its average volume of 532,666. The company's 50 day moving average price is $8.89 and its 200 day moving average price is $10.18. The stock has a market cap of $9.91 billion and a price-to-earnings ratio of 14.80. Ivanhoe Mines has a 52 week low of $6.50 and a 52 week high of $15.53.

Ivanhoe Mines (OTCMKTS:IVPAF - Get Free Report) last announced its quarterly earnings data on Wednesday, April 30th. The company reported $0.10 earnings per share for the quarter, beating analysts' consensus estimates of $0.07 by $0.03. The business had revenue of $77.02 million for the quarter, compared to the consensus estimate of $108.71 million.

About Ivanhoe Mines

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.