Ivanhoe Mines (OTCMKTS:IVPAF) Rating Lowered to “Hold” at Royal Bank Of Canada

Ivanhoe Mines (OTCMKTS:IVPAF) was downgraded by investment analysts at Royal Bank Of Canada from a “moderate buy” rating to a “hold” rating in a report issued on Monday,Zacks.com reports.

IVPAF has been the subject of a number of other reports. Raymond James Financial downgraded shares of Ivanhoe Mines from a “moderate buy” rating to a “hold” rating in a report on Wednesday, April 1st. Jefferies Financial Group downgraded shares of Ivanhoe Mines from a “buy” rating to a “hold” rating in a report on Sunday, December 7th. Scotiabank downgraded shares of Ivanhoe Mines from a “strong-buy” rating to a “hold” rating in a report on Wednesday, April 1st. Canaccord Genuity Group downgraded shares of Ivanhoe Mines from a “strong-buy” rating to a “hold” rating in a report on Friday, February 20th. Finally, Morgan Stanley set a $15.20 price objective on Ivanhoe Mines in a report on Monday, December 15th. Two equities research analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $15.20.

Ivanhoe Mines Price Performance

Shares of OTCMKTS IVPAF opened at $7.55 on Monday. Ivanhoe Mines has a twelve month low of $6.50 and a twelve month high of $15.00. The company has a current ratio of 2.23, a quick ratio of 2.10 and a debt-to-equity ratio of 0.16. The company has a market capitalization of $10.76 billion and a price-to-earnings ratio of 39.72. The firm has a 50-day moving average of $10.53 and a two-hundred day moving average of $10.54.

Ivanhoe Mines (OTCMKTS:IVPAF) last issued its quarterly earnings results on Wednesday, February 18th. The company reported $0.04 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.04. Ivanhoe Mines had a net margin of 59.23% and a return on equity of 4.90%. The company had revenue of $138.42 million during the quarter, compared to the consensus estimate 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.