Ivanhoe Mines (OTCMKTS:IVPAF) Rating Increased to Strong-Buy at Canaccord Genuity Group

Ivanhoe Mines (OTCMKTS:IVPAF) was upgraded by Canaccord Genuity Group from a “hold” rating to a “strong-buy” rating in a research note issued on Monday,Zacks.com reports.

A number of other equities research analysts also recently weighed in on IVPAF. Jefferies Financial Group restated a “hold” rating on shares of Ivanhoe Mines in a research report on Monday, July 6th. Royal Bank Of Canada cut Ivanhoe Mines from a “moderate buy” rating to a “hold” rating in a report on Monday, April 6th. Morgan Stanley upgraded Ivanhoe Mines from a “negative” rating to an “overweight” rating in a research report on Wednesday, July 8th. Scotiabank reissued a “sector perform” rating on shares of Ivanhoe Mines in a report on Monday, June 15th. Finally, Raymond James Financial downgraded Ivanhoe Mines from a “moderate buy” rating to a “hold” rating in a research report on Wednesday, April 1st. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $15.20.

Ivanhoe Mines Price Performance

IVPAF stock opened at $7.64 on Monday. The firm has a 50 day simple moving average of $8.08 and a two-hundred day simple moving average of $9.50. The stock has a market cap of $10.90 billion, a PE ratio of 84.95 and a beta of 0.90. Ivanhoe Mines has a one year low of $6.75 and a one year high of $15.00. The company has a debt-to-equity ratio of 0.17, a current ratio of 2.33 and a quick ratio of 2.16.

Ivanhoe Mines (OTCMKTS:IVPAF) last posted its quarterly earnings data on Wednesday, May 6th. The company reported $0.11 earnings per share for the quarter, beating the consensus estimate of $0.06 by $0.05. Ivanhoe Mines had a net margin of 24.86% and a return on equity of 5.14%. The firm had revenue of $165.53 million for the quarter, compared to analysts’ expectations of $186.31 million. On average, analysts predict that Ivanhoe Mines will post 0.32 EPS for the current fiscal year.

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.