Ivanhoe Mines (OTCMKTS:IVPAF) Shares Gap Up – Here’s What Happened

Ivanhoe Mines Ltd. (OTCMKTS:IVPAF) shares gapped up prior to trading on Friday . The stock had previously closed at $12.26, but opened at $12.99. Ivanhoe Mines shares last traded at $12.10, with a volume of 31,638 shares.

Analyst Upgrades and Downgrades

Several brokerages have commented on IVPAF. Morgan Stanley set a $15.20 price target on Ivanhoe Mines in a research note on Monday, December 15th. Jefferies Financial Group downgraded shares of Ivanhoe Mines from a “buy” rating to a “hold” rating in a research report on Sunday, December 7th. Scotiabank reaffirmed an “outperform” rating on shares of Ivanhoe Mines in a research report on Monday, January 26th. Finally, Raymond James Financial reiterated an “outperform” rating on shares of Ivanhoe Mines in a research note on Wednesday, January 14th. Three analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $15.20.

Ivanhoe Mines Stock Performance

The stock has a market cap of $17.89 billion and a PE ratio of 57.02. The stock has a fifty day simple moving average of $11.72 and a two-hundred day simple moving average of $10.26. The company has a debt-to-equity ratio of 0.18, a quick ratio of 4.03 and a current ratio of 4.23.

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.