Ivanhoe Mines (OTCMKTS:IVPAF) Stock Rating Lowered by Raymond James Financial

Ivanhoe Mines (OTCMKTS:IVPAF) was downgraded by analysts at Raymond James Financial from a “moderate buy” rating to a “hold” rating in a report issued on Wednesday,Zacks.com reports.

A number of other research firms also recently issued reports on IVPAF. Canaccord Genuity Group downgraded Ivanhoe Mines from a “strong-buy” rating to a “hold” rating in a research note on Friday, February 20th. Morgan Stanley set a $15.20 price objective on Ivanhoe Mines in a research report on Monday, December 15th. Scotiabank reissued an “outperform” rating on shares of Ivanhoe Mines in a report on Monday, January 26th. Finally, Jefferies Financial Group cut Ivanhoe Mines from a “buy” rating to a “hold” rating in a research report on Sunday, December 7th. Two research analysts have rated the stock with a Strong Buy rating, three have given a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, Ivanhoe Mines currently has an average rating of “Moderate Buy” and a consensus target price of $15.20.

Ivanhoe Mines Stock Down 11.1%

IVPAF opened at $7.58 on Wednesday. The stock has a market capitalization of $10.81 billion and a price-to-earnings ratio of 39.90. The firm has a 50 day moving average price of $10.82 and a 200-day moving average price of $10.57. Ivanhoe Mines has a twelve month low of $6.50 and a twelve month high of $15.00. The company has a quick ratio of 2.10, a current ratio of 2.23 and a debt-to-equity ratio of 0.16.

Ivanhoe Mines (OTCMKTS:IVPAF) last issued its earnings results on Wednesday, February 18th. The company reported $0.04 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.04. Ivanhoe Mines had a net margin of 59.23% and a return on equity of 4.90%. The company had revenue of $138.42 million for the quarter, compared to analysts’ expectations of $189.75 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.