Ivanhoe Mines (OTCMKTS:IVPAF) Issues Earnings Results

Ivanhoe Mines (OTCMKTS:IVPAF) announced its earnings results on Wednesday. The company reported $0.11 earnings per share for the quarter, topping analysts’ consensus estimates of $0.06 by $0.05, Zacks reports. The business had revenue of $165.53 million for the quarter, compared to analyst estimates of $186.31 million. Ivanhoe Mines had a return on equity of 5.20% and a net margin of 24.86%.

Ivanhoe Mines Price Performance

Shares of Ivanhoe Mines stock opened at $8.17 on Friday. The company has a current ratio of 2.23, a quick ratio of 2.10 and a debt-to-equity ratio of 0.16. The firm has a market capitalization of $11.65 billion and a PE ratio of 90.78. The business’s 50-day moving average price is $8.84 and its 200-day moving average price is $10.22. Ivanhoe Mines has a 12 month low of $6.50 and a 12 month high of $15.00.

Analysts Set New Price Targets

Several research analysts recently weighed in on IVPAF shares. Canaccord Genuity Group cut shares of Ivanhoe Mines from a “strong-buy” rating to a “hold” rating in a research report on Friday, February 20th. Scotiabank lowered shares of Ivanhoe Mines from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, April 1st. Royal Bank Of Canada cut shares of Ivanhoe Mines from a “moderate buy” rating to a “hold” rating in a research note on Monday, April 6th. Finally, Raymond James Financial lowered shares of Ivanhoe Mines from a “moderate buy” rating to a “hold” rating in a report on Wednesday, April 1st. Two equities research analysts have rated the stock with a Strong Buy rating, three have given a Buy rating and five have given a Hold rating to the stock. According to MarketBeat.com, Ivanhoe Mines currently has a consensus rating of “Moderate Buy” and a consensus price target of $15.20.

About Ivanhoe Mines

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.