Ivanhoe Mines (OTCMKTS:IVPAF) Announces Earnings Results, Misses Estimates By $0.05 EPS

Ivanhoe Mines (OTCMKTS:IVPAF) released its quarterly earnings results on Tuesday. The company reported $0.04 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.05), Zacks reports. Ivanhoe Mines had a return on equity of 5.07% and a net margin of 23.47%.

Ivanhoe Mines Stock Performance

OTCMKTS:IVPAF traded down $0.06 during trading hours on Tuesday, reaching $6.37. The company had a trading volume of 1,426,266 shares, compared to its average volume of 354,927. The firm has a market cap of $9.09 billion, a price-to-earnings ratio of 32.15 and a beta of 1.33. The company has a current ratio of 2.16, a quick ratio of 1.89 and a debt-to-equity ratio of 0.18. The firm’s 50 day moving average price is $8.09 and its 200-day moving average price is $8.86. Ivanhoe Mines has a 52 week low of $6.30 and a 52 week high of $15.00.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the stock. Canaccord Genuity Group upgraded shares of Ivanhoe Mines from a “hold” rating to a “strong-buy” rating in a report on Monday, July 20th. Scotiabank restated a “sector perform” rating on shares of Ivanhoe Mines in a research note on Wednesday, September 9th. Citigroup reaffirmed a “buy” rating on shares of Ivanhoe Mines in a research report on Wednesday, October 14th. Jefferies Financial Group reiterated a “hold” rating on shares of Ivanhoe Mines in a research note on Monday, July 6th. Finally, Morgan Stanley reissued an “overweight” rating on shares of Ivanhoe Mines in a report on Wednesday, October 7th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Ivanhoe Mines presently has an average rating of “Moderate Buy” and an average price target of $15.20.

Ivanhoe Mines Company Profile

Ivanhoe Mines Ltd. is a Canadian mining and mineral exploration company focused on developing and operating large-scale projects in Africa. Its principal commodities include copper, zinc, platinum-group metals, nickel, copper and gold.

The company’s flagship Kamoa-Kakula Copper Complex in the Democratic Republic of the Congo is being developed as a major copper mining and processing operation. Ivanhoe also holds the Kipushi zinc-copper-silver-germanium mine in the Democratic Republic of the Congo, as well as the Platreef platinum-group metals, nickel, copper and gold project in South Africa.

Ivanhoe’s exploration portfolio includes the Western Foreland project in the Democratic Republic of the Congo, an extensive exploration area near Kamoa-Kakula.