Ivanhoe Mines (OTCMKTS:IVPAF) Lowered to “Hold” Rating by Scotiabank

Scotiabank downgraded shares of Ivanhoe Mines (OTCMKTS:IVPAF) from a strong-buy rating to a hold rating in a research report released on Wednesday,Zacks.com reports.

A number of other analysts have also recently commented on the stock. Canaccord Genuity Group cut shares of Ivanhoe Mines from a “strong-buy” rating to a “hold” rating in a research note on Friday, February 20th. Raymond James Financial lowered shares of Ivanhoe Mines from a “moderate buy” rating to a “hold” rating in a research note on Wednesday. Morgan Stanley set a $15.20 target price on shares of Ivanhoe Mines in a report on Monday, December 15th. Finally, Jefferies Financial Group downgraded shares of Ivanhoe Mines from a “buy” rating to a “hold” rating in a research note on Sunday, December 7th. Two research analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $15.20.

Ivanhoe Mines Stock Performance

Shares of IVPAF opened at $7.58 on Wednesday. Ivanhoe Mines has a 12 month low of $6.50 and a 12 month high of $15.00. The firm has a fifty day simple moving average of $10.82 and a 200 day simple moving average of $10.57. The stock has a market capitalization of $10.81 billion and a price-to-earnings ratio of 39.90. The company has a current ratio of 2.23, a quick ratio of 2.10 and a debt-to-equity ratio of 0.16.

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

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.