Ivanhoe Mines (OTCMKTS:IVPAF) Shares Gap Up – Should You Buy?

Ivanhoe Mines Ltd. (OTCMKTS:IVPAF) gapped up before the market opened on Wednesday . The stock had previously closed at $8.6720, but opened at $9.28. Ivanhoe Mines shares last traded at $8.46, with a volume of 13,662 shares trading hands.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on IVPAF shares. Scotiabank reiterated a “sector perform” rating on shares of Ivanhoe Mines in a research note on Friday, May 8th. Canaccord Genuity Group lowered Ivanhoe Mines from a “strong-buy” rating to a “hold” rating in a research note on Friday, February 20th. Royal Bank Of Canada lowered Ivanhoe Mines from a “moderate buy” rating to a “hold” rating in a research note on Monday, April 6th. Finally, Raymond James Financial lowered Ivanhoe Mines from a “moderate buy” rating to a “hold” rating in a research note on Wednesday, April 1st. Two analysts have rated the stock with a Strong Buy rating, three have given a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat.com, Ivanhoe Mines has an average rating of “Moderate Buy” and an average target price of $15.20.

Ivanhoe Mines Trading Down 0.6%

The company has a 50 day simple moving average of $8.41 and a 200 day simple moving average of $10.08. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.10 and a current ratio of 2.23. The company has a market capitalization of $12.29 billion and a PE ratio of 95.79.

Ivanhoe Mines (OTCMKTS:IVPAF) last posted its quarterly earnings data on Wednesday, May 6th. The company reported $0.11 EPS for the quarter, topping the consensus estimate of $0.06 by $0.05. Ivanhoe Mines had a return on equity of 5.20% and a net margin of 24.86%.The company had revenue of $165.53 million during the quarter, compared to analyst estimates of $186.31 million. Analysts anticipate that Ivanhoe Mines Ltd. will post 0.24 earnings per share 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.