Ivanhoe Mines (OTCMKTS:IVPAF) Hits New 52-Week High – What’s Next?

Ivanhoe Mines Ltd. (OTCMKTS:IVPAF) hit a new 52-week high on Thursday . The stock traded as high as $14.4273 and last traded at $13.88, with a volume of 382169 shares. The stock had previously closed at $13.60.

Analyst Ratings Changes

Several brokerages recently weighed in on IVPAF. Jefferies Financial Group cut shares of Ivanhoe Mines from a “buy” rating to a “hold” rating in a report on Sunday, December 7th. Citigroup reissued a “buy” rating on shares of Ivanhoe Mines in a research report on Wednesday, October 8th. Morgan Stanley set a $15.20 price objective on shares of Ivanhoe Mines in a research report on Monday, December 15th. Raymond James Financial reiterated an “outperform” rating on shares of Ivanhoe Mines in a research note on Wednesday, January 14th. Finally, Scotiabank restated an “outperform” rating on shares of Ivanhoe Mines in a research note on Monday. Three analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $15.20.

Ivanhoe Mines Stock Up 2.1%

The firm’s 50-day moving average price is $11.04 and its two-hundred day moving average price is $9.88. The company has a debt-to-equity ratio of 0.18, a quick ratio of 4.03 and a current ratio of 4.23. The firm has a market cap of $19.77 billion and a PE ratio of 63.09.

Ivanhoe Mines (OTCMKTS:IVPAF) last announced its quarterly earnings results on Wednesday, October 29th. The company reported $0.02 EPS for the quarter, topping the consensus estimate of ($0.02) by $0.04. Ivanhoe Mines had a net margin of 89.02% and a return on equity of 5.99%. The firm had revenue of $129.40 million for the quarter, compared to analyst estimates of $128.95 million.

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.