Ivanhoe Mines (OTCMKTS:IVPAF) Trading 9.6% Higher - Still a Buy?

Key Points

• Ivanhoe Mines shares rose 9.6% to $9.35 in Tuesday trading, though volume was 87% below the average session level.
• Analyst sentiment is broadly positive, with a consensus rating of “Moderate Buy” and an average price target of $15.20; recent actions included upgrades from Morgan Stanley and Canaccord Genuity.
• The company’s latest quarterly results fell short of expectations, reporting $0.03 in EPS versus $0.06 forecast and revenue of $152.61 million versus $202.11 million expected.

Ivanhoe Mines Ltd. (OTCMKTS:IVPAF - Get Free Report)'s share price traded up 9.6% during trading on Tuesday . The stock traded as high as $9.35 and last traded at $9.35. Approximately 59,258 shares were traded during trading, a decline of 87% from the average session volume of 462,818 shares. The stock had previously closed at $8.53.

Analyst Upgrades and Downgrades

IVPAF has been the subject of a number of research analyst reports. Scotiabank reaffirmed a "sector perform" rating on shares of Ivanhoe Mines in a research note on Monday, June 15th. Morgan Stanley upgraded shares of Ivanhoe Mines from a "negative" rating to an "overweight" rating in a research note on Wednesday, July 8th. Canaccord Genuity Group raised Ivanhoe Mines from a "hold" rating to a "strong-buy" rating in a report on Monday, July 20th. Finally, Jefferies Financial Group reaffirmed a "hold" rating on shares of Ivanhoe Mines in a research note on Monday, July 6th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $15.20.

Ivanhoe Mines Stock Up 11.5%

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 company has a market capitalization of $13.57 billion, a price-to-earnings ratio of 105.67 and a beta of 1.03. The stock's fifty day simple moving average is $7.95 and its two-hundred day simple moving average is $8.51.

Ivanhoe Mines (OTCMKTS:IVPAF - Get Free Report) last posted its quarterly earnings data on Wednesday, July 29th. The company reported $0.03 earnings per share for the quarter, missing the consensus estimate of $0.06 by ($0.03). Ivanhoe Mines had a net margin of 23.47% and a return on equity of 5.07%. The business had revenue of $152.61 million for the quarter, compared to the consensus estimate of $202.11 million. On average, sell-side analysts anticipate that Ivanhoe Mines Ltd. will post 0.31 EPS for the current year.

Ivanhoe Mines Company Profile

Ivanhoe Mines is a Canada-based mineral exploration and development company focused on unlocking high-value deposits of copper, nickel, zinc, and platinum-group metals. The company pursues a two-pronged strategy of advancing large-scale mining projects through feasibility and development stages while also expanding its exploration footprint. Ivanhoe's technical expertise spans geology, engineering, environmental management, and community relations, enabling it to secure the necessary permits and infrastructure for major mine developments.

The company's flagship asset is the Kamoa-Kakula copper complex in the Democratic Republic of Congo (DRC), a joint venture with the government of the DRC and Zijin Mining.

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