Ivanhoe Mines (OTCMKTS:IVPAF) Cut to Hold at Canaccord Genuity Group

Canaccord Genuity Group lowered shares of Ivanhoe Mines (OTCMKTS:IVPAF) from a strong-buy rating to a hold rating in a research report released on Friday morning,Zacks.com reports.

Several other research analysts have also commented on the stock. Jefferies Financial Group lowered shares of Ivanhoe Mines from a “buy” rating to a “hold” rating in a research note on Sunday, December 7th. Morgan Stanley set a $15.20 target price on shares of Ivanhoe Mines in a report on Monday, December 15th. Raymond James Financial reaffirmed an “outperform” rating on shares of Ivanhoe Mines in a research report on Wednesday, January 14th. Finally, Scotiabank reiterated an “outperform” rating on shares of Ivanhoe Mines in a research note on Monday, January 26th. Two analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Buy” and an average price target of $15.20.

Ivanhoe Mines Stock Up 2.6%

Shares of OTCMKTS IVPAF opened at $11.68 on Friday. The firm has a market cap of $16.66 billion and a price-to-earnings ratio of 61.48. The company has a quick ratio of 4.03, a current ratio of 4.23 and a debt-to-equity ratio of 0.18. Ivanhoe Mines has a 52-week low of $6.50 and a 52-week high of $15.00. The business’s 50 day moving average is $11.91 and its two-hundred day moving average is $10.42.

Ivanhoe Mines (OTCMKTS:IVPAF) last released its quarterly earnings results on Wednesday, February 18th. The company reported $0.04 EPS for the quarter, hitting the consensus estimate of $0.04. Ivanhoe Mines had a return on equity of 5.02% and a net margin of 59.23%.The business had revenue of $138.42 million during the quarter, compared to analyst estimates of $189.75 million.

Ivanhoe Mines Company Profile

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.