Ivanhoe Mines (OTCMKTS:IVPAF) Shares Gap Down – What’s Next?

Ivanhoe Mines Ltd. (OTCMKTS:IVPAF) shares gapped down prior to trading on Thursday . The stock had previously closed at $10.09, but opened at $9.52. Ivanhoe Mines shares last traded at $10.2010, with a volume of 14,353 shares changing hands.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on IVPAF shares. Jefferies Financial Group cut Ivanhoe Mines from a “buy” rating to a “hold” rating in a research report on Sunday. Citigroup reaffirmed a “buy” rating on shares of Ivanhoe Mines in a report on Wednesday, October 8th. Scotiabank raised Ivanhoe Mines from a “hold” rating to an “outperform” rating in a report on Monday, September 29th. TD Securities reaffirmed a “buy” rating on shares of Ivanhoe Mines in a research note on Monday, September 29th. Finally, Morgan Stanley reaffirmed an “overweight” rating on shares of Ivanhoe Mines in a research report on Wednesday, October 8th. Three 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’s stock. Based on data from MarketBeat, the company has a consensus rating of “Buy”.

Ivanhoe Mines Stock Performance

The company has a quick ratio of 4.03, a current ratio of 4.23 and a debt-to-equity ratio of 0.18. The stock has a market cap of $14.54 billion and a price-to-earnings ratio of 68.13. The company has a 50 day simple moving average of $10.08 and a 200 day simple moving average of $8.98.

Ivanhoe Mines (OTCMKTS:IVPAF) last released its quarterly earnings results on Wednesday, October 29th. The company reported $0.02 earnings per share for the quarter, topping the consensus estimate of ($0.02) by $0.04. Ivanhoe Mines had a return on equity of 5.76% and a net margin of 89.02%.The company 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.