Ivanhoe Mines (OTCMKTS:IVPAF) Cut to Hold at Canaccord Genuity Group

Ivanhoe Mines (OTCMKTS:IVPAF) was downgraded by analysts at Canaccord Genuity Group from a “strong-buy” rating to a “hold” rating in a research note issued to investors on Friday,Zacks.com reports.

A number of other equities analysts also recently weighed in on the stock. Scotiabank restated an “outperform” rating on shares of Ivanhoe Mines in a report on Monday, January 26th. Raymond James Financial reissued an “outperform” rating on shares of Ivanhoe Mines in a research report on Wednesday, January 14th. Jefferies Financial Group cut shares of Ivanhoe Mines from a “buy” rating to a “hold” rating in a report on Sunday, December 7th. Finally, Morgan Stanley set a $15.20 target price on shares of Ivanhoe Mines in a research note on Monday, December 15th. Two equities research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $15.20.

Ivanhoe Mines Stock Performance

IVPAF opened at $11.68 on Friday. The business’s 50-day simple moving average is $11.91 and its 200 day simple moving average is $10.39. Ivanhoe Mines has a 52-week low of $6.50 and a 52-week high of $15.00. The company has a debt-to-equity ratio of 0.18, a quick ratio of 4.03 and a current ratio of 4.23. The firm has a market capitalization of $16.66 billion and a PE ratio of 61.48.

Ivanhoe Mines (OTCMKTS:IVPAF) last posted its quarterly earnings results on Wednesday, February 18th. The company reported $0.04 earnings per share for the quarter, hitting the consensus estimate of $0.04. Ivanhoe Mines had a return on equity of 5.02% and a net margin of 59.23%.The firm had revenue of $138.42 million for the quarter, compared to analyst estimates of $189.75 million.

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.