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

Ivanhoe Mines Ltd. (OTCMKTS:IVPAF) shares gapped up before the market opened on Friday. The stock had previously closed at $8.26, but opened at $8.77. Ivanhoe Mines shares last traded at $8.42, with a volume of 26,732 shares traded.

Analysts Set New Price Targets

Several brokerages recently issued reports on IVPAF. Canaccord Genuity Group upgraded Ivanhoe Mines from a “hold” rating to a “strong-buy” rating in a research report on Monday, July 20th. Morgan Stanley raised Ivanhoe Mines from a “negative” rating to an “overweight” rating in a research report on Wednesday, July 8th. Jefferies Financial Group reissued a “hold” rating on shares of Ivanhoe Mines in a report on Monday, July 6th. Finally, Scotiabank restated a “sector perform” rating on shares of Ivanhoe Mines in a research report on Wednesday, September 9th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $15.20.

Ivanhoe Mines Trading Up 2.6%

The company has a quick ratio of 1.89, a current ratio of 2.16 and a debt-to-equity ratio of 0.18. The business’s fifty day moving average is $8.43 and its 200-day moving average is $8.28. The stock has a market capitalization of $12.09 billion, a PE ratio of 94.16 and a beta of 1.08.

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

Ivanhoe Mines Company Profile

Ivanhoe Mines Ltd. is a Canadian mining and mineral exploration company headquartered in Vancouver, British Columbia. The company focuses on the discovery, development and operation of mineral projects, with an emphasis on copper, zinc, nickel and platinum-group metals.

Its principal asset is the Kamoa-Kakula Copper Complex in the Democratic Republic of the Congo, one of the company’s flagship copper development and production projects. Ivanhoe Mines also operates the Kipushi zinc-copper-germanium-lead mine in the Democratic Republic of the Congo and is developing the Platreef project in South Africa, which is expected to produce nickel, copper, platinum, palladium, rhodium and gold.

Ivanhoe Mines was founded in 1993 by mining entrepreneur Robert Friedland and has built a portfolio concentrated in Southern and Central Africa.