Ivanhoe Mines (OTCMKTS:IVPAF) Releases Quarterly Earnings Results, Misses Expectations By $0.05 EPS

Ivanhoe Mines (OTCMKTS:IVPAF) announced its quarterly earnings results on Tuesday. The company reported $0.04 earnings per share for the quarter, missing the consensus estimate of $0.09 by ($0.05), Zacks reports. Ivanhoe Mines had a net margin of 21.53% and a return on equity of 5.35%. The company had revenue of $263.84 million for the quarter, compared to the consensus estimate of $274.00 million.

Ivanhoe Mines Price Performance

Shares of OTCMKTS IVPAF traded down $0.23 during midday trading on Thursday, hitting $5.83. 183,381 shares of the company’s stock were exchanged, compared to its average volume of 474,475. Ivanhoe Mines has a 12-month low of $5.50 and a 12-month high of $15.00. 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 company has a market cap of $8.32 billion, a price-to-earnings ratio of 53.04 and a beta of 1.33. The business’s fifty day moving average price is $8.03 and its two-hundred day moving average price is $8.83.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on IVPAF shares. Scotiabank restated a “sector perform” rating on shares of Ivanhoe Mines in a research report on Wednesday, September 9th. Citigroup reaffirmed a “buy” rating on shares of Ivanhoe Mines in a report on Wednesday, October 14th. Morgan Stanley reiterated an “overweight” rating on shares of Ivanhoe Mines in a research note on Wednesday, October 7th. TD Securities cut shares of Ivanhoe Mines from a “strong-buy” rating to a “hold” rating 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. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price 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.