Ivanhoe Mines (OTCMKTS:IVPAF) Downgraded by Scotiabank to “Hold”

Ivanhoe Mines (OTCMKTS:IVPAF) was downgraded by equities researchers at Scotiabank from a “strong-buy” rating to a “hold” rating in a note issued to investors on Wednesday,Zacks.com reports.

IVPAF has been the subject of a number of other reports. Canaccord Genuity Group cut shares of Ivanhoe Mines from a “strong-buy” rating to a “hold” rating in a research report on Friday, February 20th. Morgan Stanley set a $15.20 price objective on Ivanhoe Mines in a report on Monday, December 15th. Raymond James Financial cut Ivanhoe Mines from a “moderate buy” rating to a “hold” rating in a research report on Wednesday. Finally, Jefferies Financial Group downgraded Ivanhoe Mines from a “buy” rating to a “hold” rating in a report on Sunday, December 7th. 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 stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $15.20.

Ivanhoe Mines Stock Down 11.1%

Shares of OTCMKTS:IVPAF opened at $7.58 on Wednesday. The company has a market capitalization of $10.81 billion and a PE ratio of 39.90. The company has a current ratio of 2.23, a quick ratio of 2.10 and a debt-to-equity ratio of 0.16. Ivanhoe Mines has a twelve month low of $6.50 and a twelve month high of $15.00. The firm has a 50 day simple moving average of $10.82 and a 200-day simple moving average of $10.57.

Ivanhoe Mines (OTCMKTS:IVPAF) last issued its earnings results on Wednesday, February 18th. The company reported $0.04 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.04. The business had revenue of $138.42 million during the quarter, compared to analysts’ expectations of $189.75 million. Ivanhoe Mines had a net margin of 59.23% and a return on equity of 4.90%.

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.