Ivanhoe Mines (OTCMKTS:IVPAF) Shares Gap Up - What's Next?

Key Points

• Ivanhoe Mines shares gapped higher, opening at $8.50 versus a prior close of $7.84, before trading at $8.08 on volume of 17,306 shares.
• Analyst sentiment is generally positive: the stock has a “Moderate Buy” consensus rating and a $15.20 average price target, although several analysts maintain Hold or Sector Perform ratings.
• The company’s latest quarterly results missed expectations, with EPS of $0.03 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 $7.84, but opened at $8.50. Ivanhoe Mines shares last traded at $8.08, with a volume of 17,306 shares trading hands.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. Jefferies Financial Group reissued a "hold" rating on shares of Ivanhoe Mines in a report on Monday, July 6th. Scotiabank reiterated a "sector perform" rating on shares of Ivanhoe Mines in a research note on Wednesday, September 9th. Canaccord Genuity Group raised shares of Ivanhoe Mines from a "hold" rating to a "strong-buy" rating in a research report on Monday, July 20th. Finally, Morgan Stanley restated an "overweight" rating on shares of Ivanhoe Mines in a research note on Wednesday. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $15.20.

Ivanhoe Mines Trading Up 3.5%

The stock has a market cap of $11.58 billion, a PE ratio of 90.20 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. The firm has a fifty day simple moving average of $8.50 and a two-hundred day simple moving average of $8.27.

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 analysts' consensus estimates of $0.06 by ($0.03). The company had revenue of $152.61 million during 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%. As a group, equities analysts expect that Ivanhoe Mines Ltd. will post 0.3 earnings per share for the current fiscal year.

About Ivanhoe Mines

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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