Ivanhoe Mines (OTCMKTS:IVPAF) Rating Increased to Strong-Buy at Canaccord Genuity Group

Ivanhoe Mines (OTCMKTS:IVPAF) was upgraded by research analysts at Canaccord Genuity Group from a “hold” rating to a “strong-buy” rating in a note issued to investors on Monday,Zacks.com reports.

Several other brokerages have also recently weighed in on IVPAF. Morgan Stanley upgraded shares of Ivanhoe Mines from a “negative” rating to an “overweight” rating in a research note on Wednesday, July 8th. Royal Bank Of Canada cut shares of Ivanhoe Mines from a “moderate buy” rating to a “hold” rating in a report on Monday, April 6th. Jefferies Financial Group reiterated a “hold” rating on shares of Ivanhoe Mines in a research report on Monday, July 6th. Scotiabank reissued a “sector perform” rating on shares of Ivanhoe Mines in a research report on Monday, June 15th. Finally, Raymond James Financial cut Ivanhoe Mines from a “moderate buy” rating to a “hold” rating in a report on Wednesday, April 1st. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $15.20.

Ivanhoe Mines Stock Performance

Shares of Ivanhoe Mines stock opened at $7.64 on Monday. Ivanhoe Mines has a 12 month low of $6.75 and a 12 month high of $15.00. The firm has a market capitalization of $10.90 billion, a P/E ratio of 84.95 and a beta of 0.90. The company has a current ratio of 2.33, a quick ratio of 2.16 and a debt-to-equity ratio of 0.17. The business has a fifty day simple moving average of $8.08 and a two-hundred day simple moving average of $9.50.

Ivanhoe Mines (OTCMKTS:IVPAF) last posted its quarterly earnings results on Wednesday, May 6th. The company reported $0.11 earnings per share for the quarter, topping the consensus estimate of $0.06 by $0.05. The company had revenue of $165.53 million for the quarter, compared to the consensus estimate of $186.31 million. Ivanhoe Mines had a return on equity of 5.14% and a net margin of 24.86%. On average, equities analysts forecast that Ivanhoe Mines will post 0.32 earnings per share for the current fiscal year.

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.