Ivanhoe Mines (OTCMKTS:IVPAF) Shares Up 9.6% – Time to Buy?

Ivanhoe Mines Ltd. (OTCMKTS:IVPAF) shares traded up 9.6% on Tuesday . The stock traded as high as $9.35 and last traded at $9.35. 59,258 shares were traded during trading, a decline of 87% from the average session volume of 462,818 shares. The stock had previously closed at $8.53.

Analyst Ratings Changes

IVPAF has been the topic of a number of recent analyst reports. Jefferies Financial Group reaffirmed a “hold” rating on shares of Ivanhoe Mines in a research report on Monday, July 6th. Canaccord Genuity Group upgraded Ivanhoe Mines from a “hold” rating to a “strong-buy” rating in a research report on Monday, July 20th. Morgan Stanley upgraded Ivanhoe Mines from a “negative” rating to an “overweight” rating in a research report on Wednesday, July 8th. Finally, Scotiabank reissued a “sector perform” rating on shares of Ivanhoe Mines in a research note on Monday, June 15th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $15.20.

Ivanhoe Mines Trading Up 11.5%

The company has a current ratio of 2.16, a quick ratio of 1.89 and a debt-to-equity ratio of 0.18. The firm has a market cap of $13.57 billion, a PE ratio of 105.67 and a beta of 1.03. The company’s 50-day moving average is $7.95 and its 200 day moving average is $8.51.

Ivanhoe Mines (OTCMKTS:IVPAF) last posted its quarterly earnings data on Wednesday, July 29th. The company reported $0.03 EPS for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.03). Ivanhoe Mines had a return on equity of 5.07% and a net margin of 23.47%.The firm had revenue of $152.61 million during the quarter, compared to analyst estimates of $202.11 million. As a group, sell-side analysts predict that Ivanhoe Mines Ltd. will post 0.31 EPS 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.