Ivanhoe Mines (OTCMKTS:IVPAF) Upgraded at Canaccord Genuity Group

Canaccord Genuity Group upgraded shares of Ivanhoe Mines (OTCMKTS:IVPAF) from a hold rating to a strong-buy rating in a research note released on Monday,Zacks.com reports.

A number of other analysts have also weighed in on IVPAF. Raymond James Financial lowered shares of Ivanhoe Mines from a “moderate buy” rating to a “hold” rating in a report on Wednesday, April 1st. Morgan Stanley raised Ivanhoe Mines from a “negative” rating to an “overweight” rating in a report on Wednesday, July 8th. Jefferies Financial Group reiterated a “hold” rating on shares of Ivanhoe Mines in a research report on Monday, July 6th. Royal Bank Of Canada cut Ivanhoe Mines from a “moderate buy” rating to a “hold” rating in a research note on Monday, April 6th. Finally, Scotiabank reissued a “sector perform” rating on shares of Ivanhoe Mines in a research note on Monday, June 15th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and four have given a Hold rating to the company. According to MarketBeat, Ivanhoe Mines currently has a consensus rating of “Moderate Buy” and a consensus price target of $15.20.

Ivanhoe Mines Stock Down 1.6%

Shares of OTCMKTS:IVPAF opened at $7.53 on Monday. The company has a quick ratio of 2.16, a current ratio of 2.33 and a debt-to-equity ratio of 0.17. The firm has a market cap of $10.74 billion, a P/E ratio of 83.64 and a beta of 0.90. Ivanhoe Mines has a 12 month low of $6.75 and a 12 month high of $15.00. The company’s 50-day moving average price is $8.05 and its two-hundred day moving average price is $9.47.

Ivanhoe Mines (OTCMKTS:IVPAF) last announced its earnings results on Wednesday, May 6th. The company reported $0.11 earnings per share for the quarter, topping analysts’ consensus estimates of $0.06 by $0.05. Ivanhoe Mines had a net margin of 24.86% and a return on equity of 5.14%. The company had revenue of $165.53 million during the quarter, compared to the consensus estimate of $186.31 million. As a group, research analysts forecast that Ivanhoe Mines will post 0.3 EPS for the current fiscal year.

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.