Analysts Set Ivanhoe Mines Ltd. (OTCMKTS:IVPAF) Price Target at $15.20

Ivanhoe Mines Ltd. (OTCMKTS:IVPAF) has been assigned an average recommendation of “Buy” from the nine brokerages that are covering the firm, Marketbeat reports. Two investment analysts have rated the stock with a hold recommendation, five have assigned a buy recommendation and two have assigned a strong buy recommendation to the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $15.20.

A number of brokerages have recently issued reports on IVPAF. Jefferies Financial Group downgraded Ivanhoe Mines from a “buy” rating to a “hold” rating in a research note on Sunday, December 7th. Raymond James Financial reaffirmed an “outperform” rating on shares of Ivanhoe Mines in a report on Wednesday, January 14th. Morgan Stanley set a $15.20 price objective on Ivanhoe Mines in a research report on Monday, December 15th. Scotiabank restated an “outperform” rating on shares of Ivanhoe Mines in a research report on Monday, January 26th. Finally, Canaccord Genuity Group cut shares of Ivanhoe Mines from a “strong-buy” rating to a “hold” rating in a research note on Friday, February 20th.

Ivanhoe Mines Trading Down 6.7%

Shares of Ivanhoe Mines stock opened at $7.93 on Friday. The firm has a market cap of $11.31 billion and a price-to-earnings ratio of 41.74. Ivanhoe Mines has a 52-week low of $6.50 and a 52-week high of $15.00. The company’s 50-day simple moving average is $11.10 and its 200-day simple moving average is $10.59. 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 (OTCMKTS:IVPAF) last announced its quarterly earnings data on Wednesday, February 18th. The company reported $0.04 EPS for the quarter, meeting analysts’ consensus estimates 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 the consensus estimate of $189.75 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.