Ivanhoe Mines Ltd. (OTCMKTS:IVPAF) Given Average Rating of “Strong Buy” by Brokerages

Shares of Ivanhoe Mines Ltd. (OTCMKTS:IVPAF) have been assigned a consensus recommendation of “Strong Buy” from the five analysts that are currently covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a hold rating and four have given a strong buy rating to the company.

A number of brokerages recently weighed in on IVPAF. Royal Bank Of Canada upgraded shares of Ivanhoe Mines to a “moderate buy” rating in a report on Tuesday. Citigroup raised shares of Ivanhoe Mines to a “strong-buy” rating in a research report on Monday, June 16th. Scotiabank cut shares of Ivanhoe Mines from a “strong-buy” rating to a “hold” rating in a research report on Thursday, June 12th. UBS Group raised shares of Ivanhoe Mines to a “strong-buy” rating in a research report on Thursday, June 12th. Finally, TD Securities raised shares of Ivanhoe Mines to a “strong-buy” rating in a research report on Tuesday, June 3rd.

Ivanhoe Mines Price Performance

Ivanhoe Mines stock opened at $7.32 on Wednesday. Ivanhoe Mines has a fifty-two week low of $6.50 and a fifty-two week high of $15.53. The company’s 50 day simple moving average is $8.89 and its 200 day simple moving average is $10.20. The firm has a market capitalization of $9.91 billion and a price-to-earnings ratio of 14.80.

Ivanhoe Mines (OTCMKTS:IVPAF) last announced its quarterly earnings data on Wednesday, April 30th. The company reported $0.10 EPS for the quarter, topping analysts’ consensus estimates of $0.07 by $0.03. The business had revenue of $77.02 million during the quarter, compared to the consensus estimate of $108.71 million.

About Ivanhoe Mines

Ivanhoe Mines Ltd. engages in the mining, development, and exploration of minerals and precious metals primarily in Africa. It explores for platinum, palladium, nickel, copper, gold, rhodium, zinc, silver, germanium, and lead deposits. The company's projects include the Platreef project located in the Northern Limb of South Africa's Bushveld Complex; the Kipushi project located in Haut-Katanga Province, Democratic Republic of Congo; and the Kamoa-Kakula project located within the Central African Copperbelt.