Ivanhoe Mines (OTCMKTS:IVPAF) Shares Gap Up - Time to Buy?

Key Points

• Ivanhoe Mines shares opened higher, rising from a prior close of $8.26 to $8.77 before settling near $8.42, up 2.6%.
• Analyst sentiment is generally positive: the stock has a “Moderate Buy” consensus rating and an average price target of $15.20, with recent upgrades from Morgan Stanley and Canaccord Genuity.
• The company missed quarterly expectations, reporting $0.03 in earnings per share versus $0.06 expected and revenue of $152.61 million versus $202.11 million forecast.

Ivanhoe Mines Ltd. (OTCMKTS:IVPAF - Get Free Report)'s stock price gapped up prior to trading on Friday. The stock had previously closed at $8.26, but opened at $8.77. Ivanhoe Mines shares last traded at $8.42, with a volume of 26,732 shares trading hands.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on IVPAF. Jefferies Financial Group reaffirmed a "hold" rating on shares of Ivanhoe Mines in a report on Monday, July 6th. Scotiabank reissued a "sector perform" rating on shares of Ivanhoe Mines in a research note on Wednesday, September 9th. Morgan Stanley upgraded shares of Ivanhoe Mines from a "negative" rating to an "overweight" rating in a research report on Wednesday, July 8th. Finally, Canaccord Genuity Group upgraded shares of Ivanhoe Mines from a "hold" rating to a "strong-buy" rating in a research note on Monday, July 20th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $15.20.

Ivanhoe Mines Trading Up 2.6%

The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.89 and a current ratio of 2.16. The firm has a market cap of $12.09 billion, a price-to-earnings ratio of 94.16 and a beta of 1.08. The business has a fifty day moving average of $8.43 and a two-hundred day moving average of $8.28.

Ivanhoe Mines (OTCMKTS:IVPAF - Get Free Report) last announced its quarterly earnings results 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). The firm had revenue of $152.61 million during the quarter, compared to analysts' expectations of $202.11 million. Ivanhoe Mines had a net margin of 23.47% and a return on equity of 5.07%. As a group, equities analysts expect that Ivanhoe Mines Ltd. will post 0.3 earnings per share for the current fiscal 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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