Ivanhoe Mines (OTCMKTS:IVPAF) Shares Gap Down – Should You Sell?

Ivanhoe Mines Ltd. (OTCMKTS:IVPAF)’s stock price gapped down prior to trading on Thursday. The stock had previously closed at $7.88, but opened at $7.37. Ivanhoe Mines shares last traded at $7.16, with a volume of 31,700 shares.

Analyst Ratings Changes

Several brokerages have recently issued reports on IVPAF. Citigroup reaffirmed a “buy” rating on shares of Ivanhoe Mines in a report on Wednesday. Scotiabank reissued a “sector perform” rating on shares of Ivanhoe Mines in a report on Wednesday, September 9th. Morgan Stanley restated an “overweight” rating on shares of Ivanhoe Mines in a research report on Wednesday, October 7th. Jefferies Financial Group restated a “hold” rating on shares of Ivanhoe Mines in a research report on Monday, July 6th. Finally, Canaccord Genuity Group raised shares of Ivanhoe Mines from a “hold” rating to a “strong-buy” rating in a research note on Monday, July 20th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $15.20.

Ivanhoe Mines Stock Up 0.4%

The company has a fifty day moving average of $8.53 and a two-hundred day moving average of $8.26. The company has a market cap of $10.56 billion, a PE ratio of 82.22 and a beta of 1.08. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.89 and a current ratio of 2.16.

Ivanhoe Mines (OTCMKTS:IVPAF) last issued its quarterly earnings results on Wednesday, July 29th. The company reported $0.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.03). The company had revenue of $152.61 million during the quarter, compared to the consensus estimate of $202.11 million. Ivanhoe Mines had a return on equity of 5.07% and a net margin of 23.47%. As a group, analysts anticipate that Ivanhoe Mines Ltd. will post 0.28 earnings per share for the current fiscal year.

Ivanhoe Mines Company Profile

Ivanhoe Mines Ltd. is a Canadian mining and mineral exploration company headquartered in Vancouver, British Columbia. The company focuses on the discovery, development and operation of mineral projects, with an emphasis on copper, zinc, nickel and platinum-group metals.

Its principal asset is the Kamoa-Kakula Copper Complex in the Democratic Republic of the Congo, one of the company’s flagship copper development and production projects. Ivanhoe Mines also operates the Kipushi zinc-copper-germanium-lead mine in the Democratic Republic of the Congo and is developing the Platreef project in South Africa, which is expected to produce nickel, copper, platinum, palladium, rhodium and gold.

Ivanhoe Mines was founded in 1993 by mining entrepreneur Robert Friedland and has built a portfolio concentrated in Southern and Central Africa.