Ivanhoe Mines (OTCMKTS:IVPAF) Reaches New 52-Week Low – Here’s Why

Shares of Ivanhoe Mines Ltd. (OTCMKTS:IVPAF) reached a new 52-week low during mid-day trading on Thursday. The stock traded as low as $5.32 and last traded at $5.5260, with a volume of 51,241 shares changing hands. The stock had previously closed at $5.71.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. Citigroup restated a “buy” rating on shares of Ivanhoe Mines in a research note on Wednesday, October 14th. Canaccord Genuity Group upgraded shares of Ivanhoe Mines from a “hold” rating to a “strong-buy” rating in a research note on Monday, July 20th. Morgan Stanley reissued an “overweight” rating on shares of Ivanhoe Mines in a report on Wednesday, October 7th. Scotiabank reissued a “sector perform” rating on shares of Ivanhoe Mines in a report on Wednesday, September 9th. Finally, Stifel Nicolaus downgraded shares of Ivanhoe Mines from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, November 4th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $15.20.

Ivanhoe Mines Price Performance

The company has a market capitalization of $7.81 billion, a P/E ratio of 49.78 and a beta of 1.33. The company has a fifty day moving average price of $7.74 and a 200 day moving average price of $8.68. The company has a debt-to-equity ratio of 0.18, a current ratio of 2.16 and a quick ratio of 1.89.

Ivanhoe Mines (OTCMKTS:IVPAF) last announced its quarterly earnings results on Tuesday, November 3rd. The company reported $0.04 earnings per share for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.05). The company had revenue of $263.84 million for the quarter, compared to analyst estimates of $274.00 million. Ivanhoe Mines had a return on equity of 5.35% and a net margin of 21.53%. On average, sell-side analysts forecast that Ivanhoe Mines Ltd. will post 0.26 EPS for the current fiscal year.

Ivanhoe Mines Company Profile

Ivanhoe Mines is a Canadian mining company focused on discovering, developing and operating mineral projects in Africa. Its main commodities include copper, zinc and platinum-group metals. The company’s projects include the Kamoa-Kakula copper complex and the Kipushi zinc-copper mine in the Democratic Republic of the Congo, as well as the Platreef platinum-group metals, nickel, copper and gold project in South Africa. Founded by mining entrepreneur Robert Friedland, Ivanhoe Mines was previously known as Ivanhoe Mines Ltd. and has developed its portfolio through exploration and partnerships.