Ivanhoe Mines (OTCMKTS:IVPAF) Rating Increased to Moderate Buy at Royal Bank Of Canada

Royal Bank Of Canada upgraded shares of Ivanhoe Mines (OTCMKTS:IVPAF) to a moderate buy rating in a research report report published on Tuesday,Zacks.com reports.

IVPAF has been the subject of several other reports. Scotiabank cut Ivanhoe Mines from a “strong-buy” rating to a “hold” rating in a research report on Thursday, June 12th. Canaccord Genuity Group upgraded Ivanhoe Mines to a “strong-buy” rating in a research report on Friday, June 13th. TD Securities raised shares of Ivanhoe Mines to a “strong-buy” rating in a research note on Tuesday, June 3rd. UBS Group raised shares of Ivanhoe Mines to a “strong-buy” rating in a research note on Thursday, June 12th. Finally, Citigroup raised shares of Ivanhoe Mines to a “strong-buy” rating in a research note on Monday. One analyst has rated the stock with a hold rating and four have given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Strong Buy”.

Ivanhoe Mines Trading Up 0.5%

Ivanhoe Mines stock opened at $7.69 on Tuesday. The firm’s 50 day simple moving average is $8.91 and its 200 day simple moving average is $10.25. The firm has a market capitalization of $10.41 billion and a PE ratio of 15.55. Ivanhoe Mines has a 1-year low of $6.50 and a 1-year high of $15.53.

Ivanhoe Mines (OTCMKTS:IVPAF) last posted its earnings results on Wednesday, April 30th. The company reported $0.10 EPS for the quarter, topping the consensus estimate of $0.07 by $0.03. The business had revenue of $77.02 million for the quarter, compared to analysts’ expectations 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.