Ivanhoe Mines (OTCMKTS:IVPAF) Sets New 12-Month Low - Here's What Happened

Key Points

• Ivanhoe Mines shares fell 3.6%, reaching a new 52-week low of $6.30 before last trading at $6.4550, well below its 50-day and 200-day moving averages.
• Analysts maintain a generally positive outlook, with a consensus rating of “Moderate Buy” and an average price target of $15.20, more than double the recent share price.
• The company missed quarterly expectations, reporting $0.03 EPS versus $0.06 expected and revenue of $152.61 million versus estimates of $202.11 million.

Ivanhoe Mines Ltd. (OTCMKTS:IVPAF - Get Free Report)'s share price reached a new 52-week low during trading on Friday. The company traded as low as $6.30 and last traded at $6.4550, with a volume of 10,550 shares traded. The stock had previously closed at $6.72.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on IVPAF shares. Jefferies Financial Group reaffirmed a "hold" rating on shares of Ivanhoe Mines in a research note on Monday, July 6th. Scotiabank restated a "sector perform" rating on shares of Ivanhoe Mines in a research note on Wednesday, September 9th. Citigroup reaffirmed a "buy" rating on shares of Ivanhoe Mines in a report on Wednesday, October 14th. Morgan Stanley reiterated an "overweight" rating on shares of Ivanhoe Mines in a research note on Wednesday, October 7th. Finally, Canaccord Genuity Group upgraded Ivanhoe Mines from a "hold" rating to a "strong-buy" rating in a research note on Monday, July 20th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $15.20.

Ivanhoe Mines Stock Down 3.6%

The firm's fifty day moving average is $8.22 and its 200 day moving average is $8.94. The stock has a market cap of $9.24 billion, a P/E ratio of 71.99 and a beta of 1.08. The company has a current ratio of 2.16, a quick ratio of 1.89 and a debt-to-equity ratio of 0.18.

Ivanhoe Mines (OTCMKTS:IVPAF - Get Free Report) last released its quarterly earnings data on Wednesday, July 29th. The company reported $0.03 earnings per share for the quarter, missing analysts' consensus estimates of $0.06 by ($0.03). Ivanhoe Mines had a net margin of 23.47% and a return on equity of 5.07%. The company had revenue of $152.61 million for the quarter, compared to analyst estimates of $202.11 million. As a group, equities research analysts forecast that Ivanhoe Mines Ltd. will post 0.30 EPS for the current year.

About Ivanhoe Mines

Ivanhoe Mines Ltd. is a Canadian mining and mineral exploration company focused on developing and operating large-scale projects in Africa. Its principal commodities include copper, zinc, platinum-group metals, nickel, copper and gold.

The company's flagship Kamoa-Kakula Copper Complex in the Democratic Republic of the Congo is being developed as a major copper mining and processing operation. Ivanhoe also holds the Kipushi zinc-copper-silver-germanium mine in the Democratic Republic of the Congo, as well as the Platreef platinum-group metals, nickel, copper and gold project in South Africa.

Ivanhoe's exploration portfolio includes the Western Foreland project in the Democratic Republic of the Congo, an extensive exploration area near Kamoa-Kakula.

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