Ivanhoe Mines (OTCMKTS:IVPAF) Shares Gap Down – Time to Sell?

Shares of Ivanhoe Mines Ltd. (OTCMKTS:IVPAF) gapped down before the market opened on Thursday . The stock had previously closed at $9.76, but opened at $9.55. Ivanhoe Mines shares last traded at $9.9220, with a volume of 22,830 shares.

Analysts Set New Price Targets

Several brokerages recently issued reports on IVPAF. Jefferies Financial Group cut Ivanhoe Mines from a “buy” rating to a “hold” rating in a research note on Sunday, December 7th. Scotiabank raised shares of Ivanhoe Mines from a “hold” rating to an “outperform” rating in a report on Monday, September 29th. Morgan Stanley set a $15.20 price objective on shares of Ivanhoe Mines in a report on Monday. TD Securities reaffirmed a “buy” rating on shares of Ivanhoe Mines in a report on Monday, September 29th. Finally, Citigroup reissued a “buy” rating on shares of Ivanhoe Mines in a report on Wednesday, October 8th. Three equities research analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $15.20.

Ivanhoe Mines Trading Up 1.7%

The company has a current ratio of 4.23, a quick ratio of 4.03 and a debt-to-equity ratio of 0.18. The stock has a market capitalization of $14.13 billion and a PE ratio of 45.14. The company has a 50 day simple moving average of $9.99 and a 200 day simple moving average of $9.03.

Ivanhoe Mines (OTCMKTS:IVPAF) last posted its earnings results on Wednesday, October 29th. The company reported $0.02 EPS for the quarter, topping analysts’ consensus estimates of ($0.02) by $0.04. The company had revenue of $129.40 million for the quarter, compared to the consensus estimate of $128.95 million. Ivanhoe Mines had a return on equity of 5.99% and a net margin of 89.02%.

Ivanhoe Mines Company Profile

Ivanhoe Mines Ltd. engages in the mining, development, and exploration of minerals and precious metals primarily in Africa. It explores for platinum, palladium, nickel, copper, gold, rhodium, zinc, silver, germanium, and lead deposits. The company's projects include the Platreef project located in the Northern Limb of South Africa's Bushveld Complex; the Kipushi project located in Haut-Katanga Province, Democratic Republic of Congo; and the Kamoa-Kakula project located within the Central African Copperbelt.