Ivanhoe Mines (OTCMKTS:IVPAF) Sets New 1-Year High – Time to Buy?

Ivanhoe Mines Ltd. (OTCMKTS:IVPAF) shares hit a new 52-week high during mid-day trading on Thursday . The company traded as high as $12.37 and last traded at $11.8090, with a volume of 18949 shares changing hands. The stock had previously closed at $12.08.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. Citigroup reaffirmed a “buy” rating on shares of Ivanhoe Mines in a research note on Wednesday, October 8th. Raymond James Financial restated an “outperform” rating on shares of Ivanhoe Mines in a report on Wednesday. Jefferies Financial Group cut Ivanhoe Mines from a “buy” rating to a “hold” rating in a report on Sunday, December 7th. Morgan Stanley set a $15.20 price objective on Ivanhoe Mines in a research report on Monday, December 15th. Finally, Scotiabank raised Ivanhoe Mines from a “hold” rating to an “outperform” rating in a research note on Monday, September 29th. Three equities research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $15.20.

Ivanhoe Mines Stock Down 1.4%

The business’s 50 day moving average price is $10.40 and its 200-day moving average price is $9.56. 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 capitalization of $16.94 billion and a PE ratio of 54.14.

Ivanhoe Mines (OTCMKTS:IVPAF) last posted its quarterly earnings data on Wednesday, October 29th. The company reported $0.02 earnings per share for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $128.95 million.

Ivanhoe Mines Company Profile

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.