Ivanhoe Mines (OTCMKTS:IVPAF) Rating Increased to Strong-Buy at Citigroup

Citigroup upgraded shares of Ivanhoe Mines (OTCMKTS:IVPAF) to a strong-buy rating in a research note released on Monday morning,Zacks.com reports.

IVPAF has been the topic of a number of other research reports. Canaccord Genuity Group raised Ivanhoe Mines to a “strong-buy” rating in a research report on Friday, June 13th. TD Securities raised Ivanhoe Mines to a “strong-buy” rating in a research report on Tuesday, June 3rd. UBS Group raised Ivanhoe Mines to a “strong-buy” rating in a research report on Thursday, June 12th. Finally, Scotiabank lowered Ivanhoe Mines from a “strong-buy” rating to a “hold” rating in a research note on Thursday, June 12th. One investment analyst has rated the stock with a hold rating and four have issued a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Strong Buy”.

Ivanhoe Mines Stock Up 0.5%

Shares of OTCMKTS IVPAF opened at $7.69 on Monday. The business’s 50 day moving average price is $8.91 and its two-hundred day moving average price is $10.29. The company has a market cap of $10.41 billion and a PE ratio of 15.55. Ivanhoe Mines has a twelve month low of $6.50 and a twelve month high of $15.53.

Ivanhoe Mines (OTCMKTS:IVPAF) last announced its quarterly earnings results on Wednesday, April 30th. The company reported $0.10 earnings per share for the quarter, topping analysts’ consensus estimates of $0.07 by $0.03. The business had revenue of $77.02 million for the quarter, compared to analyst estimates of $108.71 million.

Ivanhoe Mines Company Profile

Ivanhoe Mines Ltd. engages in the mining, development, and exploration of minerals and precious metals primarily in Africa. It explores for platinum, palladium, nickel, copper, gold, rhodium, zinc, silver, germanium, and lead deposits. The company's projects include the Platreef project located in the Northern Limb of South Africa's Bushveld Complex; the Kipushi project located in Haut-Katanga Province, Democratic Republic of Congo; and the Kamoa-Kakula project located within the Central African Copperbelt.