Ivanhoe Mines (OTCMKTS:IVPAF) Rating Lowered to “Hold” at Scotiabank

Ivanhoe Mines (OTCMKTS:IVPAF) was downgraded by stock analysts at Scotiabank from a “strong-buy” rating to a “hold” rating in a research note issued on Wednesday,Zacks.com reports.

Several other research analysts also recently weighed in on the stock. Canaccord Genuity Group downgraded shares of Ivanhoe Mines from a “strong-buy” rating to a “hold” rating in a research report on Friday, February 20th. Jefferies Financial Group downgraded shares of Ivanhoe Mines from a “buy” rating to a “hold” rating in a research report on Sunday, December 7th. Raymond James Financial lowered Ivanhoe Mines from a “moderate buy” rating to a “hold” rating in a research note on Wednesday. Finally, Morgan Stanley set a $15.20 target price 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 four have assigned a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $15.20.

Ivanhoe Mines Price Performance

OTCMKTS IVPAF opened at $7.50 on Wednesday. Ivanhoe Mines has a 52 week low of $6.50 and a 52 week high of $15.00. The firm has a market capitalization of $10.69 billion and a P/E ratio of 39.48. The company has a quick ratio of 2.10, a current ratio of 2.23 and a debt-to-equity ratio of 0.16. The company has a 50-day moving average price of $10.74 and a 200-day moving average price of $10.55.

Ivanhoe Mines (OTCMKTS:IVPAF) last posted its quarterly earnings data on Wednesday, February 18th. The company reported $0.04 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.04. The company had revenue of $138.42 million for the quarter, compared to the consensus estimate of $189.75 million. Ivanhoe Mines had a net margin of 59.23% and a return on equity of 4.90%.

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.