Ivanhoe Mines (OTCMKTS:IVPAF) Trading Down 5.5% - Here's Why

Key Points

• Ivanhoe Mines shares fell 5.5% to $9.20 in midday trading, with volume down 85% from the average daily level.
• Analyst sentiment remains generally positive: the stock has a “Moderate Buy” consensus rating and a $15.20 average price target, despite mixed ratings from individual firms.
• The company missed quarterly expectations, reporting $0.03 earnings per share versus the $0.06 consensus and revenue of $152.61 million versus estimates of $202.11 million.

Ivanhoe Mines Ltd. (OTCMKTS:IVPAF - Get Free Report) traded down 5.5% during mid-day trading on Thursday . The stock traded as low as $9.1125 and last traded at $9.20. 72,828 shares changed hands during mid-day trading, a decline of 85% from the average daily volume of 470,555 shares. The stock had previously closed at $9.74.

Analysts Set New Price Targets

IVPAF has been the subject of several research analyst reports. Morgan Stanley upgraded shares of Ivanhoe Mines from a "negative" rating to an "overweight" rating in a research report on Wednesday, July 8th. Scotiabank reiterated a "sector perform" rating on shares of Ivanhoe Mines in a research note on Wednesday. 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 restated a "hold" rating on shares of Ivanhoe Mines in a research report on Monday, July 6th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, Ivanhoe Mines currently has an average rating of "Moderate Buy" and a consensus price target of $15.20.

Ivanhoe Mines Price Performance

The stock's 50-day moving average price is $8.03 and its 200 day moving average price is $8.48. The firm has a market capitalization of $13.15 billion, a price-to-earnings ratio of 102.44 and a beta of 1.03. The company has a quick ratio of 1.89, a current ratio of 2.16 and a debt-to-equity ratio of 0.18.

Ivanhoe Mines (OTCMKTS:IVPAF - Get Free Report) last posted 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 business had revenue of $152.61 million for the quarter, compared to analyst estimates of $202.11 million. Ivanhoe Mines had a return on equity of 5.07% and a net margin of 23.47%. Equities research 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 company focused on the exploration, development and operation of mineral resources in Africa. Its primary 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 large-scale, high-grade copper operation. Ivanhoe Mines also operates the Kipushi zinc-copper-germanium mine in the Democratic Republic of the Congo and is developing the Platreef project, a platinum-group metals, nickel, copper and gold discovery in South Africa's Limpopo province.

Ivanhoe Mines was founded by mining entrepreneur Robert Friedland, who serves as executive co-chairman.

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