Ivanhoe Mines (OTCMKTS:IVPAF) Shares Gap Up – Should You Buy?

Shares of Ivanhoe Mines Ltd. (OTCMKTS:IVPAF) gapped up before the market opened on Wednesday . The stock had previously closed at $8.53, but opened at $9.68. Ivanhoe Mines shares last traded at $9.90, with a volume of 29,412 shares.

Analysts Set New Price Targets

Several equities analysts have recently commented on the company. 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 upgraded Ivanhoe Mines from a “negative” rating to an “overweight” rating in a research report on Wednesday, July 8th. Jefferies Financial Group reaffirmed a “hold” rating on shares of Ivanhoe Mines in a research note on Monday, July 6th. Finally, Scotiabank reiterated a “sector perform” rating on shares of Ivanhoe Mines in a research report on Monday, June 15th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $15.20.

Ivanhoe Mines Stock Up 2.4%

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 company has a 50-day simple moving average of $7.99 and a two-hundred day simple moving average of $8.50. The stock has a market cap of $14.06 billion, a P/E ratio of 109.52 and a beta of 1.03.

Ivanhoe Mines (OTCMKTS:IVPAF) last posted its quarterly earnings results on Wednesday, July 29th. The company reported $0.03 EPS for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.03). The firm had revenue of $152.61 million for the quarter, compared to the consensus estimate of $202.11 million. Ivanhoe Mines had a net margin of 23.47% and a return on equity of 5.07%. On average, equities analysts forecast that Ivanhoe Mines Ltd. will post 0.31 EPS for the current 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.