Ivanhoe Mines (OTCMKTS:IVPAF) Sets New 52-Week Low - What's Next?

Key Points

• Ivanhoe Mines shares hit a new 52-week low, falling to $6.38 before last trading at $6.4441, compared with a prior close of $6.80.
• Analyst sentiment remains generally positive, with a consensus rating of “Moderate Buy” and an average price target of $15.20, despite the recent decline.
• The company missed quarterly expectations, reporting $0.03 EPS versus $0.06 expected and revenue of $152.61 million compared with forecasts of $202.11 million.

Shares of Ivanhoe Mines Ltd. (OTCMKTS:IVPAF - Get Free Report) reached a new 52-week low on Thursday. The stock traded as low as $6.38 and last traded at $6.4441, with a volume of 67,430 shares trading hands. The stock had previously closed at $6.80.

Analyst Upgrades and Downgrades

IVPAF has been the subject of several research reports. Scotiabank reiterated a "sector perform" rating on shares of Ivanhoe Mines in a research report on Wednesday, September 9th. Morgan Stanley reissued an "overweight" rating on shares of Ivanhoe Mines in a research report on Wednesday, October 7th. Jefferies Financial Group restated a "hold" rating on shares of Ivanhoe Mines in a research note on Monday, July 6th. Citigroup restated a "buy" rating on shares of Ivanhoe Mines in a research note on Wednesday, October 14th. Finally, Canaccord Genuity Group raised 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, two have given a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, Ivanhoe Mines currently has a consensus rating of "Moderate Buy" and an average target price of $15.20.

Ivanhoe Mines Stock Performance

The stock's 50 day moving average price is $8.42 and its two-hundred day moving average price is $8.24. The company has a current ratio of 2.16, a quick ratio of 1.89 and a debt-to-equity ratio of 0.18. The firm has a market capitalization of $9.30 billion, a price-to-earnings ratio of 72.44 and a beta of 1.08.

Ivanhoe Mines (OTCMKTS:IVPAF - Get Free Report) last announced its quarterly earnings results on Wednesday, July 29th. The company reported $0.03 EPS for the quarter, missing the consensus estimate of $0.06 by ($0.03). The firm had revenue of $152.61 million for the quarter, compared to analysts' expectations of $202.11 million. Ivanhoe Mines had a return on equity of 5.07% and a net margin of 23.47%. On average, 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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