Ivanhoe Mines (OTCMKTS:IVPAF) Shares Gap Down - Should You Sell?

Key Points

• Ivanhoe Mines shares gapped down from $7.88 to open at $7.37 and were last trading at $7.16, below both the 50-day and 200-day moving averages.
• Analyst sentiment remains broadly positive, with a consensus rating of “Moderate Buy” and an average price target of $15.20; ratings range from Hold to Strong Buy.
• The company’s latest quarterly results fell short of expectations, reporting $0.03 in EPS versus $0.06 expected and revenue of $152.61 million versus $202.11 million projected.

Ivanhoe Mines Ltd. (OTCMKTS:IVPAF - Get Free Report) gapped down prior to trading on Thursday. The stock had previously closed at $7.88, but opened at $7.37. Ivanhoe Mines shares last traded at $7.16, with a volume of 31,700 shares traded.

Analysts Set New Price Targets

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

Ivanhoe Mines Stock Up 0.4%

The company has a quick ratio of 1.89, a current ratio of 2.16 and a debt-to-equity ratio of 0.18. The company has a market capitalization of $10.56 billion, a PE ratio of 82.22 and a beta of 1.08. The company's 50 day moving average is $8.53 and its two-hundred day moving average is $8.26.

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). Ivanhoe Mines had a return on equity of 5.07% and a net margin of 23.47%. The company had revenue of $152.61 million during the quarter, compared to analysts' expectations of $202.11 million. On average, analysts anticipate that Ivanhoe Mines Ltd. will post 0.28 earnings per share for the current year.

Ivanhoe Mines Company Profile

Ivanhoe Mines Ltd. is a Canadian mining and mineral exploration company headquartered in Vancouver, British Columbia. The company focuses on the discovery, development and operation of mineral projects, with an emphasis on copper, zinc, nickel and platinum-group metals.

Its principal asset is the Kamoa-Kakula Copper Complex in the Democratic Republic of the Congo, one of the company's flagship copper development and production projects. Ivanhoe Mines also operates the Kipushi zinc-copper-germanium-lead mine in the Democratic Republic of the Congo and is developing the Platreef project in South Africa, which is expected to produce nickel, copper, platinum, palladium, rhodium and gold.

Ivanhoe Mines was founded in 1993 by mining entrepreneur Robert Friedland and has built a portfolio concentrated in Southern and Central Africa.

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