Ivanhoe Mines (OTCMKTS:IVPAF) Stock Price Down 5.5% – Here’s What Happened

Ivanhoe Mines Ltd. (OTCMKTS:IVPAF) was down 5.5% during trading on Thursday . The stock traded as low as $9.1125 and last traded at $9.20. Approximately 72,828 shares were traded during trading, a decline of 85% from the average daily volume of 470,555 shares. The stock had previously closed at $9.74.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on IVPAF. Morgan Stanley upgraded shares of Ivanhoe Mines from a “negative” rating to an “overweight” rating in a research note on Wednesday, July 8th. Scotiabank reiterated a “sector perform” rating on shares of Ivanhoe Mines in a research report on Wednesday. Jefferies Financial Group reissued a “hold” rating on shares of Ivanhoe Mines in a research note on Monday, July 6th. Finally, Canaccord Genuity Group upgraded shares of Ivanhoe Mines from a “hold” rating to a “strong-buy” rating in a research report on Monday, July 20th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $15.20.

Ivanhoe Mines Trading Up 0.0%

The business has a fifty day simple moving average of $8.10 and a 200-day simple moving average of $8.47. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.89 and a current ratio of 2.16. The firm has a market cap of $13.17 billion, a price-to-earnings ratio of 102.58 and a beta of 1.03.

Ivanhoe Mines (OTCMKTS:IVPAF) last announced its quarterly earnings results on Wednesday, July 29th. The company reported $0.03 EPS for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.03). The firm had revenue of $152.61 million for the quarter, compared to analyst estimates of $202.11 million. Ivanhoe Mines had a net margin of 23.47% and a return on equity of 5.07%. As a group, equities analysts forecast that Ivanhoe Mines Ltd. will post 0.3 earnings per share for the current fiscal year.

About Ivanhoe Mines

Ivanhoe Mines Ltd. is a Canadian mining company focused on the exploration, development and operation of mineral resources in Africa. Its primary 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 large-scale, high-grade copper operation. Ivanhoe Mines also operates the Kipushi zinc-copper-germanium mine in the Democratic Republic of the Congo and is developing the Platreef project, a platinum-group metals, nickel, copper and gold discovery in South Africa’s Limpopo province.

Ivanhoe Mines was founded by mining entrepreneur Robert Friedland, who serves as executive co-chairman.