Ivanhoe Mines (OTCMKTS:IVPAF) Posts Quarterly Earnings Results, Misses Expectations By $0.03 EPS

Ivanhoe Mines (OTCMKTS:IVPAF) announced its quarterly earnings data on Wednesday. The company reported $0.03 EPS for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.03), Zacks reports. Ivanhoe Mines had a net margin of 24.86% and a return on equity of 5.14%.

Ivanhoe Mines Stock Performance

Shares of OTCMKTS IVPAF traded up $0.08 during midday trading on Wednesday, hitting $7.61. The company’s stock had a trading volume of 288,711 shares, compared to its average volume of 476,591. Ivanhoe Mines has a 1-year low of $6.75 and a 1-year high of $15.00. The firm’s fifty day moving average price is $7.96 and its 200-day moving average price is $9.35. The company has a debt-to-equity ratio of 0.17, a quick ratio of 2.16 and a current ratio of 2.33. The firm has a market cap of $10.86 billion, a P/E ratio of 84.59 and a beta of 0.90.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. Canaccord Genuity Group upgraded shares of Ivanhoe Mines from a “hold” rating to a “strong-buy” rating in a report on Monday, July 20th. Royal Bank Of Canada downgraded shares of Ivanhoe Mines from a “moderate buy” rating to a “hold” rating in a research note on Monday, April 6th. Morgan Stanley raised shares of Ivanhoe Mines from a “negative” rating to an “overweight” rating in a research report on Wednesday, July 8th. Scotiabank reissued a “sector perform” rating on shares of Ivanhoe Mines in a research note on Monday, June 15th. Finally, Raymond James Financial lowered shares of Ivanhoe Mines from a “moderate buy” rating to a “hold” rating in a report on Wednesday, April 1st. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $15.20.

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.