Ivanhoe Mines (OTCMKTS:IVPAF) Hits New 52-Week High – Here’s What Happened

Shares of Ivanhoe Mines Ltd. (OTCMKTS:IVPAF) hit a new 52-week high during mid-day trading on Friday . The stock traded as high as $12.3950 and last traded at $12.32, with a volume of 152724 shares trading hands. The stock had previously closed at $11.75.

Analyst Ratings Changes

IVPAF has been the subject of a number of recent research reports. Raymond James Financial restated an “outperform” rating on shares of Ivanhoe Mines in a research note on Wednesday, January 14th. Morgan Stanley set a $15.20 price target on Ivanhoe Mines in a research report on Monday, December 15th. Citigroup reaffirmed a “buy” rating on shares of Ivanhoe Mines in a research report on Wednesday, October 8th. Scotiabank upgraded Ivanhoe Mines from a “hold” rating to an “outperform” rating in a research note on Monday, September 29th. Finally, TD Securities reissued a “buy” rating on shares of Ivanhoe Mines in a report on Monday, September 29th. Three investment analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $15.20.

Ivanhoe Mines Stock Performance

The stock has a market capitalization of $17.63 billion and a P/E ratio of 56.25. The company has a debt-to-equity ratio of 0.18, a quick ratio of 4.03 and a current ratio of 4.23. The company’s fifty day simple moving average is $10.69 and its two-hundred day simple moving average is $9.71.

Ivanhoe Mines (OTCMKTS:IVPAF) last released its quarterly earnings results on Wednesday, October 29th. The company reported $0.02 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.02) by $0.04. Ivanhoe Mines had a return on equity of 5.99% and a net margin of 89.02%.The business had revenue of $129.40 million during the quarter, compared to the consensus estimate of $128.95 million.

About Ivanhoe Mines

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.