Royal Bank Of Canada Downgrades Ivanhoe Mines (OTCMKTS:IVPAF) to Hold

Ivanhoe Mines (OTCMKTS:IVPAF) was downgraded by equities researchers at Royal Bank Of Canada from a “moderate buy” rating to a “hold” rating in a report released on Monday,Zacks.com reports.

Several other brokerages have also commented on IVPAF. Morgan Stanley set a $15.20 target price on Ivanhoe Mines in a research report on Monday, December 15th. Raymond James Financial downgraded Ivanhoe Mines from a “moderate buy” rating to a “hold” rating in a research note on Wednesday, April 1st. Canaccord Genuity Group downgraded Ivanhoe Mines from a “strong-buy” rating to a “hold” rating in a research note on Friday, February 20th. Jefferies Financial Group downgraded Ivanhoe Mines from a “buy” rating to a “hold” rating in a research note on Sunday, December 7th. Finally, Scotiabank downgraded Ivanhoe Mines from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, April 1st. Two research analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat.com, Ivanhoe Mines currently has a consensus rating of “Moderate Buy” and a consensus target price of $15.20.

Ivanhoe Mines Trading Down 1.6%

Shares of IVPAF stock opened at $7.42 on Monday. The stock has a market cap of $10.58 billion and a price-to-earnings ratio of 39.07. The stock has a 50-day moving average of $10.41 and a 200-day moving average of $10.52. The company has a current ratio of 2.23, a quick ratio of 2.10 and a debt-to-equity ratio of 0.16. Ivanhoe Mines has a 1-year low of $6.50 and a 1-year high of $15.00.

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