Ivanhoe Mines (OTCMKTS:IVPAF) Releases Earnings Results, Beats Estimates By $0.05 EPS

Ivanhoe Mines (OTCMKTS:IVPAF) posted its earnings results on Wednesday. The company reported $0.11 earnings per share for the quarter, beating analysts’ consensus estimates of $0.06 by $0.05, Zacks reports. The firm had revenue of $165.53 million during the quarter, compared to analyst estimates of $186.31 million. Ivanhoe Mines had a net margin of 24.86% and a return on equity of 5.20%.

Ivanhoe Mines Trading Up 4.7%

Shares of OTCMKTS:IVPAF traded up $0.38 during trading hours on Friday, hitting $8.54. 131,395 shares of the company’s stock traded hands, compared to its average volume of 509,307. Ivanhoe Mines has a 1 year low of $6.50 and a 1 year high of $15.00. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.23 and a quick ratio of 2.10. The firm has a market capitalization of $12.19 billion and a P/E ratio of 94.94. The business has a fifty day moving average price of $8.84 and a 200-day moving average price of $10.22.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on IVPAF. Raymond James Financial cut shares of Ivanhoe Mines from a “moderate buy” rating to a “hold” rating in a research note on Wednesday, April 1st. Scotiabank downgraded shares of Ivanhoe Mines from a “strong-buy” rating to a “hold” rating in a report on Wednesday, April 1st. Canaccord Genuity Group lowered Ivanhoe Mines from a “strong-buy” rating to a “hold” rating in a research report on Friday, February 20th. Finally, Royal Bank Of Canada cut Ivanhoe Mines from a “moderate buy” rating to a “hold” rating in a research note on Monday, April 6th. Two research analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $15.20.

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.