Ivanhoe Mines (OTCMKTS:IVPAF) Shares Gap Down – Here’s Why

Shares of Ivanhoe Mines Ltd. (OTCMKTS:IVPAF) gapped down prior to trading on Friday . The stock had previously closed at $12.92, but opened at $11.80. Ivanhoe Mines shares last traded at $12.31, with a volume of 6,928 shares.

Wall Street Analyst Weigh In

IVPAF has been the topic of a number of recent analyst reports. Scotiabank restated an “outperform” rating on shares of Ivanhoe Mines in a research report on Monday, January 26th. Jefferies Financial Group lowered shares of Ivanhoe Mines from a “buy” rating to a “hold” rating in a research note on Sunday, December 7th. Raymond James Financial restated an “outperform” rating on shares of Ivanhoe Mines in a research report on Wednesday, January 14th. Finally, Morgan Stanley set a $15.20 price target on Ivanhoe Mines in a research note on Monday, December 15th. Three research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat, Ivanhoe Mines currently has an average rating of “Buy” and a consensus price target of $15.20.

Ivanhoe Mines Price Performance

The firm has a market capitalization of $17.62 billion and a P/E ratio of 56.23. The business’s fifty day moving average is $11.51 and its 200 day moving average is $10.11. The company has a current ratio of 4.23, a quick ratio of 4.03 and a debt-to-equity ratio of 0.18.

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.