Ivanhoe Mines (OTCMKTS:IVPAF) Cut to Hold at TD Securities

TD Securities lowered shares of Ivanhoe Mines (OTCMKTS:IVPAF) from a strong-buy rating to a hold rating in a report issued on Wednesday morning,Zacks reports.

A number of other research firms also recently weighed in on IVPAF. Scotiabank restated a “sector perform” rating on shares of Ivanhoe Mines in a research note on Wednesday, September 9th. Canaccord Genuity Group upgraded Ivanhoe Mines from a “hold” rating to a “strong-buy” rating in a research note on Monday, July 20th. Stifel Nicolaus downgraded Ivanhoe Mines from a “strong-buy” rating to a “hold” rating in a report on Wednesday. Morgan Stanley reissued an “overweight” rating on shares of Ivanhoe Mines in a report on Wednesday, October 7th. Finally, Citigroup reissued a “buy” rating on shares of Ivanhoe Mines in a research note on Wednesday, October 14th. One research 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. Based on data from MarketBeat, Ivanhoe Mines currently has a consensus rating of “Hold” and an average target price of $15.20.

Ivanhoe Mines Stock Up 0.5%

Shares of Ivanhoe Mines stock traded up $0.03 during trading hours on Wednesday, reaching $5.86. 310,307 shares of the company’s stock were exchanged, compared to its average volume of 354,927. The stock has a market cap of $8.36 billion, a P/E ratio of 53.28 and a beta of 1.33. The company has a 50 day moving average of $7.90 and a two-hundred day moving average of $8.77. The company has a current ratio of 2.16, a quick ratio of 1.89 and a debt-to-equity ratio of 0.18. Ivanhoe Mines has a fifty-two week low of $5.50 and a fifty-two week high of $15.00.

Ivanhoe Mines (OTCMKTS:IVPAF) last released its earnings results on Tuesday, November 3rd. The company reported $0.04 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.05). Ivanhoe Mines had a net margin of 23.47% and a return on equity of 5.07%. The company had revenue of $263.84 million during the quarter, compared to analyst estimates of $274.00 million. On average, sell-side analysts forecast that Ivanhoe Mines will post 0.23 EPS for the current fiscal year.

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.