Raymond James Financial Downgrades Ivanhoe Mines (OTCMKTS:IVPAF) to Hold

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

IVPAF has been the topic of several other reports. Jefferies Financial Group lowered Ivanhoe Mines from a “buy” rating to a “hold” rating in a research note on Sunday, December 7th. Canaccord Genuity Group lowered Ivanhoe Mines from a “strong-buy” rating to a “hold” rating in a report on Friday, February 20th. Morgan Stanley set a $15.20 price objective on Ivanhoe Mines in a research note on Monday, December 15th. Finally, Scotiabank reaffirmed an “outperform” rating on shares of Ivanhoe Mines in a report on Monday, January 26th. Two 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 data from MarketBeat.com, Ivanhoe Mines currently has an average rating of “Moderate Buy” and a consensus target price of $15.20.

Ivanhoe Mines Stock Performance

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

Ivanhoe Mines (OTCMKTS:IVPAF) last announced its earnings results on Wednesday, February 18th. The company reported $0.04 EPS for the quarter, meeting the consensus estimate 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.