Ivanhoe Mines (OTCMKTS:IVPAF) Upgraded to “Strong-Buy” at Canaccord Genuity Group

Canaccord Genuity Group upgraded shares of Ivanhoe Mines (OTCMKTS:IVPAF) from a hold rating to a strong-buy rating in a research note issued to investors on Monday morning,Zacks.com reports.

Several other brokerages have also issued reports on IVPAF. Raymond James Financial lowered Ivanhoe Mines from a “moderate buy” rating to a “hold” rating in a research note on Wednesday, April 1st. Jefferies Financial Group reiterated a “hold” rating on shares of Ivanhoe Mines in a research report on Monday, July 6th. Scotiabank reissued a “sector perform” rating on shares of Ivanhoe Mines in a research note on Monday, June 15th. Royal Bank Of Canada cut shares of Ivanhoe Mines from a “moderate buy” rating to a “hold” rating in a report on Monday, April 6th. Finally, Morgan Stanley raised shares of Ivanhoe Mines from a “negative” rating to an “overweight” rating in a report on Wednesday, July 8th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, Ivanhoe Mines has an average rating of “Moderate Buy” and a consensus target price of $15.20.

Ivanhoe Mines Stock Performance

OTCMKTS IVPAF opened at $7.64 on Monday. 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 firm has a market capitalization of $10.90 billion, a price-to-earnings ratio of 84.95 and a beta of 0.90. The firm’s 50 day simple moving average is $8.08 and its 200 day simple moving average is $9.50. Ivanhoe Mines has a 1 year low of $6.75 and a 1 year high of $15.00.

Ivanhoe Mines (OTCMKTS:IVPAF) last announced its quarterly earnings data on Wednesday, May 6th. The company reported $0.11 EPS for the quarter, beating the consensus estimate of $0.06 by $0.05. Ivanhoe Mines had a net margin of 24.86% and a return on equity of 5.14%. The business had revenue of $165.53 million during the quarter, compared to the consensus estimate of $186.31 million. As a group, research analysts expect that Ivanhoe Mines will post 0.32 earnings per share for the current fiscal 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.