Ivanhoe Mines (OTCMKTS:IVPAF) Shares Gap Up – Time to Buy?

Shares of Ivanhoe Mines Ltd. (OTCMKTS:IVPAF) gapped up prior to trading on Tuesday . The stock had previously closed at $7.19, but opened at $7.93. Ivanhoe Mines shares last traded at $7.8675, with a volume of 67,415 shares traded.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on IVPAF. Royal Bank Of Canada lowered shares of Ivanhoe Mines from a “moderate buy” rating to a “hold” rating in a research note on Monday, April 6th. Morgan Stanley upgraded Ivanhoe Mines from a “negative” rating to an “overweight” rating in a research note on Wednesday, July 8th. Canaccord Genuity Group upgraded Ivanhoe Mines from a “hold” rating to a “strong-buy” rating in a research note on Monday, July 20th. Scotiabank restated a “sector perform” rating on shares of Ivanhoe Mines in a research note on Monday, June 15th. Finally, Jefferies Financial Group reaffirmed a “hold” rating on shares of Ivanhoe Mines in a report on Monday, July 6th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $15.20.

Ivanhoe Mines Price Performance

The company has a current ratio of 2.33, a quick ratio of 2.16 and a debt-to-equity ratio of 0.17. The stock has a 50-day moving average price of $7.89 and a 200 day moving average price of $9.22. The stock has a market capitalization of $10.80 billion, a price-to-earnings ratio of 84.13 and a beta of 0.98.

Ivanhoe Mines (OTCMKTS:IVPAF) last issued its quarterly earnings results on Wednesday, July 29th. The company reported $0.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.03). Ivanhoe Mines had a return on equity of 5.10% and a net margin of 23.47%.The business had revenue of $152.61 million for the quarter, compared to analysts’ expectations of $202.11 million. As a group, equities research analysts expect that Ivanhoe Mines Ltd. will post 0.34 earnings per share for the current year.

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.