Ivanhoe Mines (OTCMKTS:IVPAF) Issues Earnings Results

Ivanhoe Mines (OTCMKTS:IVPAF) released its quarterly earnings data on Tuesday. The company reported $0.04 earnings per share for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.05), Zacks reports. Ivanhoe Mines had a net margin of 23.47% and a return on equity of 5.07%.

Ivanhoe Mines Price Performance

IVPAF traded down $0.06 during trading on Tuesday, hitting $6.37. The company’s stock had a trading volume of 1,426,266 shares, compared to its average volume of 468,444. The company has a quick ratio of 1.89, a current ratio of 2.16 and a debt-to-equity ratio of 0.18. The stock has a market capitalization of $9.09 billion, a price-to-earnings ratio of 70.78 and a beta of 1.08. The firm’s 50 day moving average price is $8.09 and its two-hundred day moving average price is $8.86. Ivanhoe Mines has a 12 month low of $6.30 and a 12 month high of $15.00.

Wall Street Analysts Forecast Growth

IVPAF has been the subject of a number of analyst reports. Canaccord Genuity Group raised Ivanhoe Mines from a “hold” rating to a “strong-buy” rating in a report on Monday, July 20th. Jefferies Financial Group reiterated a “hold” rating on shares of Ivanhoe Mines in a research report on Monday, July 6th. Scotiabank reissued a “sector perform” rating on shares of Ivanhoe Mines in a report on Wednesday, September 9th. Citigroup reissued a “buy” rating on shares of Ivanhoe Mines in a report on Wednesday, October 14th. Finally, Morgan Stanley reaffirmed an “overweight” rating on shares of Ivanhoe Mines in a research note on Wednesday, October 7th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, Ivanhoe Mines presently has a consensus rating of “Moderate Buy” and a consensus price target of $15.20.

About Ivanhoe Mines

Ivanhoe Mines Ltd. is a Canadian mining and mineral exploration company focused on developing and operating large-scale projects in Africa. Its principal commodities include copper, zinc, platinum-group metals, nickel, copper and gold.

The company’s flagship Kamoa-Kakula Copper Complex in the Democratic Republic of the Congo is being developed as a major copper mining and processing operation. Ivanhoe also holds the Kipushi zinc-copper-silver-germanium mine in the Democratic Republic of the Congo, as well as the Platreef platinum-group metals, nickel, copper and gold project in South Africa.

Ivanhoe’s exploration portfolio includes the Western Foreland project in the Democratic Republic of the Congo, an extensive exploration area near Kamoa-Kakula.