Ivanhoe Mines (OTCMKTS:IVPAF) Posts Earnings Results, Misses Expectations By $0.05 EPS

Ivanhoe Mines (OTCMKTS:IVPAF) posted its quarterly earnings data on Tuesday. The company reported $0.04 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.09 by ($0.05), Zacks reports. The company had revenue of $263.84 million during the quarter, compared to the consensus estimate of $274.00 million. Ivanhoe Mines had a net margin of 23.47% and a return on equity of 5.07%.

Ivanhoe Mines Stock Down 11.3%

Shares of IVPAF stock traded down $0.72 on Wednesday, hitting $5.65. The company’s stock had a trading volume of 374,094 shares, compared to its average volume of 467,484. 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 has a fifty-two week low of $5.50 and a fifty-two week high of $15.00. The firm’s fifty day moving average price is $8.09 and its 200-day moving average price is $8.86. The stock has a market capitalization of $8.06 billion, a price-to-earnings ratio of 62.76 and a beta of 1.33.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on IVPAF. 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. Citigroup reissued a “buy” rating on shares of Ivanhoe Mines in a research note on Wednesday, October 14th. Morgan Stanley restated an “overweight” rating on shares of Ivanhoe Mines in a report on Wednesday, October 7th. Finally, Scotiabank restated a “sector perform” rating on shares of Ivanhoe Mines in a research report on Wednesday, September 9th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $15.20.

Ivanhoe Mines Company Profile

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.