Ivanhoe Mines (OTCMKTS:IVPAF) Shares Gap Up – Here’s What Happened

Ivanhoe Mines Ltd. (OTCMKTS:IVPAF)’s share price gapped up prior to trading on Friday . The stock had previously closed at $12.26, but opened at $12.99. Ivanhoe Mines shares last traded at $12.10, with a volume of 31,638 shares traded.

Wall Street Analyst Weigh In

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

Ivanhoe Mines Stock Up 4.1%

The company has a current ratio of 4.23, a quick ratio of 4.03 and a debt-to-equity ratio of 0.18. The company has a market capitalization of $18.20 billion and a PE ratio of 58.00. The business’s 50-day simple moving average is $11.69 and its 200-day simple moving average is $10.22.

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.