Ivanhoe Mines (OTCMKTS:IVPAF) Hits New 1-Year High – Should You Buy?

Ivanhoe Mines Ltd. (OTCMKTS:IVPAF)’s stock price hit a new 52-week high on Friday . The company traded as high as $12.3950 and last traded at $12.32, with a volume of 152724 shares changing hands. The stock had previously closed at $11.75.

Analysts Set New Price Targets

IVPAF has been the topic of a number of research analyst reports. Citigroup reissued a “buy” rating on shares of Ivanhoe Mines in a report on Wednesday, October 8th. Raymond James Financial reissued an “outperform” rating on shares of Ivanhoe Mines in a report on Wednesday, January 14th. Scotiabank upgraded Ivanhoe Mines from a “hold” rating to an “outperform” rating in a research report on Monday, September 29th. Jefferies Financial Group cut Ivanhoe Mines from a “buy” rating to a “hold” rating in a report on Sunday, December 7th. Finally, TD Securities reissued a “buy” rating on shares of Ivanhoe Mines in a research note on Monday, September 29th. Three research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Buy” and an average price target of $15.20.

Ivanhoe Mines Price Performance

The company’s 50 day simple moving average is $10.69 and its 200 day simple moving average is $9.71. The company has a debt-to-equity ratio of 0.18, a current ratio of 4.23 and a quick ratio of 4.03. The stock has a market cap of $17.63 billion and a P/E ratio of 56.25.

Ivanhoe Mines (OTCMKTS:IVPAF) last issued its quarterly earnings data on Wednesday, October 29th. The company reported $0.02 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.02) by $0.04. Ivanhoe Mines had a return on equity of 5.99% and a net margin of 89.02%.The business had revenue of $129.40 million during the quarter, compared to analyst estimates of $128.95 million.

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.