Ivanhoe Mines (OTCMKTS:IVPAF) Shares Down 5.5% – Here’s What Happened

Ivanhoe Mines Ltd. (OTCMKTS:IVPAF) shares were down 5.5% during mid-day trading on Thursday . The company traded as low as $9.1125 and last traded at $9.20. Approximately 72,828 shares traded hands during mid-day trading, a decline of 85% from the average daily volume of 470,555 shares. The stock had previously closed at $9.74.

Analyst Upgrades and Downgrades

Several research firms have recently commented on IVPAF. Canaccord Genuity Group upgraded Ivanhoe Mines from a “hold” rating to a “strong-buy” rating in a report on Monday, July 20th. Jefferies Financial Group restated a “hold” rating on shares of Ivanhoe Mines in a research report on Monday, July 6th. Morgan Stanley raised shares of Ivanhoe Mines from a “negative” rating to an “overweight” rating in a research note on Wednesday, July 8th. Finally, Scotiabank reiterated a “sector perform” rating on shares of Ivanhoe Mines in a research note on Wednesday. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $15.20.

Ivanhoe Mines Trading Down 5.3%

The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.89 and a current ratio of 2.16. The company’s 50-day moving average price is $8.03 and its 200-day moving average price is $8.48. The firm has a market capitalization of $13.15 billion, a PE ratio of 102.44 and a beta of 1.03.

Ivanhoe Mines (OTCMKTS:IVPAF) last posted its earnings results on Wednesday, July 29th. The company reported $0.03 EPS for the quarter, missing the consensus estimate of $0.06 by ($0.03). Ivanhoe Mines had a net margin of 23.47% and a return on equity of 5.07%. The business had revenue of $152.61 million during the quarter, compared to analysts’ expectations of $202.11 million. On average, sell-side analysts expect that Ivanhoe Mines Ltd. will post 0.3 earnings per share for the current year.

About Ivanhoe Mines

Ivanhoe Mines Ltd. is a Canadian mining company focused on the exploration, development and operation of mineral resources in Africa. Its primary 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 large-scale, high-grade copper operation. Ivanhoe Mines also operates the Kipushi zinc-copper-germanium mine in the Democratic Republic of the Congo and is developing the Platreef project, a platinum-group metals, nickel, copper and gold discovery in South Africa’s Limpopo province.

Ivanhoe Mines was founded by mining entrepreneur Robert Friedland, who serves as executive co-chairman.