Ivanhoe Mines (OTCMKTS:IVPAF) Downgraded to “Hold” Rating by Raymond James Financial

Raymond James Financial cut shares of Ivanhoe Mines (OTCMKTS:IVPAF) from a moderate buy rating to a hold rating in a research report sent to investors on Wednesday,Zacks.com reports.

A number of other brokerages have also weighed in on IVPAF. Jefferies Financial Group lowered shares of Ivanhoe Mines from a “buy” rating to a “hold” rating in a report on Sunday, December 7th. Scotiabank reaffirmed an “outperform” rating on shares of Ivanhoe Mines in a report on Monday, January 26th. Canaccord Genuity Group lowered Ivanhoe Mines from a “strong-buy” rating to a “hold” rating in a research report on Friday, February 20th. Finally, Morgan Stanley set a $15.20 target price on Ivanhoe Mines in a research note on Monday, December 15th. Two equities research analysts have rated the stock with a Strong Buy rating, three have given a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, Ivanhoe Mines currently has an average rating of “Moderate Buy” and an average price target of $15.20.

Ivanhoe Mines Stock Down 11.1%

Shares of OTCMKTS IVPAF opened at $7.58 on Wednesday. The firm’s 50-day simple moving average is $10.82 and its 200 day simple moving average is $10.57. The company has a market cap of $10.81 billion and a price-to-earnings ratio of 39.90. The company has a quick ratio of 2.10, a current ratio of 2.23 and a debt-to-equity ratio of 0.16. Ivanhoe Mines has a 12-month low of $6.50 and a 12-month high of $15.00.

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, meeting the consensus estimate of $0.04. Ivanhoe Mines had a net margin of 59.23% and a return on equity of 4.90%. The firm had revenue of $138.42 million during 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.