Ivanhoe Mines (OTCMKTS:IVPAF) Lowered to “Hold” Rating by Royal Bank Of Canada

Royal Bank Of Canada downgraded shares of Ivanhoe Mines (OTCMKTS:IVPAF) from a moderate buy rating to a hold rating in a research note released on Monday morning,Zacks.com reports.

IVPAF has been the topic of a number of other reports. Morgan Stanley set a $15.20 price objective on shares of Ivanhoe Mines in a report on Monday, December 15th. Canaccord Genuity Group downgraded shares of Ivanhoe Mines from a “strong-buy” rating to a “hold” rating in a report on Friday, February 20th. Jefferies Financial Group downgraded shares of Ivanhoe Mines from a “buy” rating to a “hold” rating in a report on Sunday, December 7th. Raymond James Financial downgraded shares of Ivanhoe Mines from a “moderate buy” rating to a “hold” rating in a report on Wednesday, April 1st. Finally, Scotiabank downgraded shares of Ivanhoe Mines from a “strong-buy” rating to a “hold” rating in a report on Wednesday, April 1st. Two equities research analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $15.20.

Ivanhoe Mines Stock Performance

Shares of IVPAF opened at $7.55 on Monday. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.10 and a current ratio of 2.23. Ivanhoe Mines has a twelve month low of $6.50 and a twelve month high of $15.00. The firm’s 50 day moving average price is $10.53 and its two-hundred day moving average price is $10.54. The firm has a market cap of $10.76 billion and a P/E ratio of 39.72.

Ivanhoe Mines (OTCMKTS:IVPAF) last announced its quarterly earnings results on Wednesday, February 18th. The company reported $0.04 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.04. Ivanhoe Mines had a net margin of 59.23% and a return on equity of 4.90%. The firm had revenue of $138.42 million for the quarter, compared to analyst estimates of $189.75 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.