Ivanhoe Mines (OTCMKTS:IVPAF) Shares Gap Up – Should You Buy?

Ivanhoe Mines Ltd. (OTCMKTS:IVPAF)’s stock price gapped up before the market opened on Friday . The stock had previously closed at $13.91, but opened at $14.61. Ivanhoe Mines shares last traded at $12.85, with a volume of 73,552 shares trading hands.

Analysts Set New Price Targets

A number of equities analysts have commented on IVPAF shares. Scotiabank reiterated an “outperform” rating on shares of Ivanhoe Mines in a report on Monday, January 26th. Citigroup reissued a “buy” rating on shares of Ivanhoe Mines in a report on Wednesday, October 8th. Raymond James Financial restated an “outperform” rating on shares of Ivanhoe Mines in a report on Wednesday, January 14th. Morgan Stanley set a $15.20 price target on shares of Ivanhoe Mines in a research report on Monday, December 15th. Finally, Jefferies Financial Group cut shares of Ivanhoe Mines from a “buy” rating to a “hold” rating in a report on Sunday, December 7th. Three equities research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Ivanhoe Mines presently has an average rating of “Buy” and a consensus price target of $15.20.

Ivanhoe Mines Price Performance

The business has a 50-day simple moving average of $11.22 and a two-hundred day simple moving average of $9.95. The company has a quick ratio of 4.03, a current ratio of 4.23 and a debt-to-equity ratio of 0.18. The stock has a market capitalization of $18.02 billion and a price-to-earnings ratio of 57.50.

Ivanhoe Mines (OTCMKTS:IVPAF) last issued its earnings results on Wednesday, October 29th. The company reported $0.02 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.02) by $0.04. Ivanhoe Mines had a return on equity of 5.99% and a net margin of 89.02%.The business had revenue of $129.40 million for the quarter, compared to analysts’ expectations of $128.95 million.

About Ivanhoe Mines

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.