Ivanhoe Mines Ltd. (OTCMKTS:IVPAF) Stock Has Average Price Target of $15.20 According to Brokerages

Shares of Ivanhoe Mines Ltd. (OTCMKTS:IVPAF) have been assigned a consensus recommendation of “Moderate Buy” from the six research firms that are currently covering the stock, Marketbeat Ratings reports. Four investment analysts have rated the stock with a hold rating, one has given a buy rating and one has issued a strong buy rating on the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $15.20.

A number of research firms have recently weighed in on IVPAF. Jefferies Financial Group reaffirmed a “hold” rating on shares of Ivanhoe Mines in a research note on Monday, July 6th. Scotiabank reiterated a “sector perform” rating on shares of Ivanhoe Mines in a report on Wednesday, September 9th. Morgan Stanley reiterated an “overweight” rating on shares of Ivanhoe Mines in a research note on Wednesday. Finally, Canaccord Genuity Group raised shares of Ivanhoe Mines from a “hold” rating to a “strong-buy” rating in a report on Monday, July 20th.

Ivanhoe Mines Stock Up 3.7%

Ivanhoe Mines stock opened at $8.13 on Tuesday. The company has a debt-to-equity ratio of 0.18, a current ratio of 2.16 and a quick ratio of 1.89. Ivanhoe Mines has a 1-year low of $6.75 and a 1-year high of $15.00. The company has a market cap of $11.60 billion, a PE ratio of 90.33 and a beta of 1.08. The stock’s 50 day moving average price is $8.52 and its 200 day moving average price is $8.27.

Ivanhoe Mines (OTCMKTS:IVPAF) last announced its quarterly earnings data 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). Ivanhoe Mines had a return on equity of 5.07% and a net margin of 23.47%. The business had revenue of $152.61 million for the quarter, compared to analyst estimates of $202.11 million. On average, sell-side analysts predict that Ivanhoe Mines will post 0.28 EPS for the current fiscal year.

About Ivanhoe Mines

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.