Ivanhoe Mines (OTCMKTS:IVPAF) Stock Rating Lowered by Canaccord Genuity Group

Ivanhoe Mines (OTCMKTS:IVPAF) was downgraded by research analysts at Canaccord Genuity Group from a “strong-buy” rating to a “hold” rating in a report issued on Friday,Zacks.com reports.

Other equities analysts have also issued reports about the stock. Morgan Stanley set a $15.20 price target on shares of Ivanhoe Mines in a research report on Monday, December 15th. Raymond James Financial reaffirmed an “outperform” rating on shares of Ivanhoe Mines in a report on Wednesday, January 14th. Jefferies Financial Group downgraded shares of Ivanhoe Mines from a “buy” rating to a “hold” rating in a research report on Sunday, December 7th. Finally, Scotiabank reiterated an “outperform” rating on shares of Ivanhoe Mines in a research note on Monday, January 26th. Two analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, Ivanhoe Mines presently has an average rating of “Buy” and a consensus target price of $15.20.

Ivanhoe Mines Stock Performance

OTCMKTS:IVPAF opened at $11.68 on Friday. The stock has a 50 day simple moving average of $11.91 and a 200 day simple moving average of $10.39. The stock has a market cap of $16.66 billion and a P/E ratio of 61.48. Ivanhoe Mines has a 1-year low of $6.50 and a 1-year high of $15.00. The company has a current ratio of 4.23, a quick ratio of 4.03 and a debt-to-equity ratio of 0.18.

Ivanhoe Mines (OTCMKTS:IVPAF) last posted its quarterly earnings data on Wednesday, February 18th. The company reported $0.04 earnings per share for the quarter, hitting the consensus estimate of $0.04. Ivanhoe Mines had a return on equity of 5.02% and a net margin of 59.23%.The firm had revenue of $138.42 million for the quarter, compared to analysts’ expectations of $189.75 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.