Ivanhoe Mines (OTCMKTS:IVPAF) Shares Gap Up – Should You Buy?

Ivanhoe Mines Ltd. (OTCMKTS:IVPAF)’s stock price gapped up before the market opened on Friday . The stock had previously closed at $10.13, but opened at $10.56. Ivanhoe Mines shares last traded at $10.10, with a volume of 13,596 shares trading hands.

Analyst Ratings Changes

IVPAF has been the topic of a number of recent analyst reports. Citigroup restated a “buy” rating on shares of Ivanhoe Mines in a research note on Wednesday, October 8th. Morgan Stanley restated an “overweight” rating on shares of Ivanhoe Mines in a research report on Wednesday, October 8th. Jefferies Financial Group downgraded shares of Ivanhoe Mines from a “buy” rating to a “hold” rating in a report on Sunday, December 7th. TD Securities reissued a “buy” rating on shares of Ivanhoe Mines in a report on Monday, September 29th. Finally, Scotiabank upgraded Ivanhoe Mines from a “hold” rating to an “outperform” rating in a research report on Monday, September 29th. Three equities research analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, Ivanhoe Mines presently has a consensus rating of “Buy”.

Ivanhoe Mines Stock Down 2.9%

The company has a market cap of $14.00 billion and a PE ratio of 65.60. The company has a fifty day moving average of $10.06 and a two-hundred day moving average of $8.99. The company has a debt-to-equity ratio of 0.18, a quick ratio of 4.03 and a current ratio of 4.23.

Ivanhoe Mines (OTCMKTS:IVPAF) last posted its quarterly earnings data on Wednesday, October 29th. The company reported $0.02 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.04. Ivanhoe Mines had a net margin of 89.02% and a return on equity of 5.99%. The business had revenue of $129.40 million for the quarter, compared to analysts’ expectations of $128.95 million.

About Ivanhoe Mines

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.