Ivanhoe Mines (OTCMKTS:IVPAF) Announces Earnings Results, Misses Expectations By $0.03 EPS

Ivanhoe Mines (OTCMKTS:IVPAF) posted its earnings results on Wednesday. The company reported $0.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.03), Zacks reports. Ivanhoe Mines had a net margin of 24.86% and a return on equity of 5.14%.

Ivanhoe Mines Trading Up 1.1%

OTCMKTS IVPAF traded up $0.08 during trading hours on Wednesday, hitting $7.61. 288,711 shares of the company’s stock were exchanged, compared to its average volume of 476,591. The business’s 50 day moving average is $7.96 and its 200-day moving average is $9.35. The company has a debt-to-equity ratio of 0.17, a quick ratio of 2.16 and a current ratio of 2.33. Ivanhoe Mines has a 12-month low of $6.75 and a 12-month high of $15.00. The firm has a market capitalization of $10.86 billion, a P/E ratio of 84.59 and a beta of 0.90.

Analysts Set New Price Targets

IVPAF has been the subject of a number of analyst reports. Royal Bank Of Canada cut Ivanhoe Mines from a “moderate buy” rating to a “hold” rating in a report on Monday, April 6th. Raymond James Financial lowered Ivanhoe Mines from a “moderate buy” rating to a “hold” rating in a research note on Wednesday, April 1st. Jefferies Financial Group reissued a “hold” rating on shares of Ivanhoe Mines in a research note on Monday, July 6th. Canaccord Genuity Group raised shares of Ivanhoe Mines from a “hold” rating to a “strong-buy” rating in a research note on Monday, July 20th. Finally, Morgan Stanley upgraded shares of Ivanhoe Mines from a “negative” rating to an “overweight” rating in a report on Wednesday, July 8th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, the stock presently has an average 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.