Ivanhoe Mines (OTCMKTS:IVPAF) Shares Gap Down – Here’s Why

Ivanhoe Mines Ltd. (OTCMKTS:IVPAF) gapped down before the market opened on Thursday . The stock had previously closed at $10.09, but opened at $9.52. Ivanhoe Mines shares last traded at $10.2010, with a volume of 14,353 shares changing hands.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on IVPAF. Scotiabank raised Ivanhoe Mines from a “hold” rating to an “outperform” rating in a report on Monday, September 29th. TD Securities reaffirmed a “buy” rating on shares of Ivanhoe Mines in a research note on Monday, September 29th. Jefferies Financial Group downgraded Ivanhoe Mines from a “buy” rating to a “hold” rating in a report on Sunday, December 7th. Morgan Stanley restated an “overweight” rating on shares of Ivanhoe Mines in a research report on Wednesday, October 8th. Finally, Citigroup reaffirmed a “buy” rating on shares of Ivanhoe Mines in a research note on Wednesday, October 8th. Three equities research analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, Ivanhoe Mines currently has an average rating of “Buy”.

Ivanhoe Mines Stock Performance

The company has a market cap of $14.00 billion and a PE ratio of 65.60. The company’s fifty day moving average price is $10.06 and its 200 day moving average price is $8.99. The company has a debt-to-equity ratio of 0.18, a current ratio of 4.23 and a quick ratio of 4.03.

Ivanhoe Mines (OTCMKTS:IVPAF) last posted its 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. The firm had revenue of $129.40 million for the quarter, compared to analysts’ expectations of $128.95 million. Ivanhoe Mines had a net margin of 89.02% and a return on equity of 5.99%.

About Ivanhoe Mines

Ivanhoe Mines Ltd. engages in the mining, development, and exploration of minerals and precious metals primarily in Africa. It explores for platinum, palladium, nickel, copper, gold, rhodium, zinc, silver, germanium, and lead deposits. The company's projects include the Platreef project located in the Northern Limb of South Africa's Bushveld Complex; the Kipushi project located in Haut-Katanga Province, Democratic Republic of Congo; and the Kamoa-Kakula project located within the Central African Copperbelt.