Ivanhoe Mines Ltd. (OTCMKTS:IVPAF) Receives Average Recommendation of “Moderate Buy” from Brokerages

Shares of Ivanhoe Mines Ltd. (OTCMKTS:IVPAF) have received an average recommendation of “Moderate Buy” from the eight analysts that are currently covering the company, MarketBeat.com reports. Four analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $15.20.

A number of brokerages have weighed in on IVPAF. Morgan Stanley raised Ivanhoe Mines from a “negative” rating to an “overweight” rating in a research report on Wednesday, July 8th. Canaccord Genuity Group raised shares of Ivanhoe Mines from a “hold” rating to a “strong-buy” rating in a report on Monday, July 20th. Scotiabank reiterated a “sector perform” rating on shares of Ivanhoe Mines in a research note on Wednesday. Finally, Jefferies Financial Group reissued a “hold” rating on shares of Ivanhoe Mines in a report on Monday, July 6th.

Ivanhoe Mines Price Performance

Shares of IVPAF opened at $9.23 on Friday. Ivanhoe Mines has a twelve month low of $6.75 and a twelve month high of $15.00. The company has a market capitalization of $13.17 billion, a P/E ratio of 102.56 and a beta of 1.03. The firm has a 50 day moving average of $8.06 and a 200 day moving average of $8.47. The company has a quick ratio of 1.89, a current ratio of 2.16 and a debt-to-equity ratio of 0.18.

Ivanhoe Mines (OTCMKTS:IVPAF) last announced its quarterly earnings results on Wednesday, July 29th. The company reported $0.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.03). Ivanhoe Mines had a net margin of 23.47% and a return on equity of 5.07%. The business had revenue of $152.61 million for the quarter, compared to the consensus estimate of $202.11 million. As a group, equities research analysts anticipate that Ivanhoe Mines will post 0.3 earnings per share for the current fiscal year.

About Ivanhoe Mines

Ivanhoe Mines Ltd. is a Canadian mining company focused on the exploration, development and operation of mineral resources in Africa. Its primary commodities include copper, zinc, platinum-group metals, nickel, copper and gold.

The company’s flagship Kamoa-Kakula Copper Complex in the Democratic Republic of the Congo is being developed as a large-scale, high-grade copper operation. Ivanhoe Mines also operates the Kipushi zinc-copper-germanium mine in the Democratic Republic of the Congo and is developing the Platreef project, a platinum-group metals, nickel, copper and gold discovery in South Africa’s Limpopo province.

Ivanhoe Mines was founded by mining entrepreneur Robert Friedland, who serves as executive co-chairman.