Ivanhoe Mines (OTCMKTS:IVPAF) Shares Up 6.7% – Here’s What Happened

Ivanhoe Mines Ltd. (OTCMKTS:IVPAF)’s share price was up 6.7% during trading on Monday . The stock traded as high as $13.25 and last traded at $13.20. Approximately 93,205 shares changed hands during trading, a decline of 70% from the average daily volume of 306,513 shares. The stock had previously closed at $12.3750.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on IVPAF. Jefferies Financial Group lowered Ivanhoe Mines from a “buy” rating to a “hold” rating in a report on Sunday, December 7th. Citigroup reissued a “buy” rating on shares of Ivanhoe Mines in a research report on Wednesday, October 8th. Raymond James Financial reaffirmed an “outperform” rating on shares of Ivanhoe Mines in a research report on Wednesday, January 14th. Scotiabank reiterated an “outperform” rating on shares of Ivanhoe Mines in a research note on Monday. Finally, TD Securities reissued a “buy” rating on shares of Ivanhoe Mines in a report on Monday, September 29th. Three analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat, Ivanhoe Mines presently has an average rating of “Buy” and an average target price of $15.20.

Ivanhoe Mines Trading Up 4.1%

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 firm has a fifty day simple moving average of $10.76 and a two-hundred day simple moving average of $9.77. The firm has a market capitalization of $18.36 billion and a P/E ratio of 58.57.

Ivanhoe Mines (OTCMKTS:IVPAF) last issued its earnings results 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 firm had revenue of $129.40 million for the quarter, compared to analyst estimates of $128.95 million.

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.