Ivanhoe Mines Ltd. (OTCMKTS:IVPAF) Stock Has Average Price Target of $15.20

Shares of Ivanhoe Mines Ltd. (OTCMKTS:IVPAF) have been assigned an average recommendation of “Moderate Buy” from the six ratings firms that are presently covering the firm, MarketBeat.com reports. Four equities research analysts have rated the stock with a hold rating, one has given a buy rating and one has issued a strong buy rating on the company. The average 12-month price objective among analysts that have covered the stock in the last year is $15.20.

A number of brokerages have recently commented on IVPAF. Jefferies Financial Group reaffirmed a “hold” rating on shares of Ivanhoe Mines in a report on Monday, July 6th. Morgan Stanley reissued an “overweight” rating on shares of Ivanhoe Mines in a report on Wednesday. Scotiabank restated a “sector perform” rating on shares of Ivanhoe Mines in a research report on Wednesday, September 9th. Finally, Canaccord Genuity Group upgraded Ivanhoe Mines from a “hold” rating to a “strong-buy” rating in a research report on Monday, July 20th.

Ivanhoe Mines Stock Performance

Shares of Ivanhoe Mines stock opened at $7.84 on Tuesday. The firm’s fifty day simple moving average is $8.50 and its 200-day simple moving average is $8.27. Ivanhoe Mines has a 12 month low of $6.75 and a 12 month high of $15.00. The stock has a market capitalization of $11.18 billion, a price-to-earnings ratio of 87.11 and a beta of 1.08. The company has a debt-to-equity ratio of 0.18, a current ratio of 2.16 and a quick ratio of 1.89.

Ivanhoe Mines (OTCMKTS:IVPAF) last issued its quarterly earnings results on Wednesday, July 29th. The company reported $0.03 earnings per share for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.03). Ivanhoe Mines had a return on equity of 5.07% and a net margin of 23.47%.The business had revenue of $152.61 million for the quarter, compared to analyst estimates of $202.11 million. As a group, equities analysts forecast that Ivanhoe Mines will post 0.3 earnings per share for the current year.

About Ivanhoe Mines

Ivanhoe Mines Ltd. is a Canadian mining and mineral exploration company headquartered in Vancouver, British Columbia. The company focuses on the discovery, development and operation of mineral projects, with an emphasis on copper, zinc, nickel and platinum-group metals.

Its principal asset is the Kamoa-Kakula Copper Complex in the Democratic Republic of the Congo, one of the company’s flagship copper development and production projects. Ivanhoe Mines also operates the Kipushi zinc-copper-germanium-lead mine in the Democratic Republic of the Congo and is developing the Platreef project in South Africa, which is expected to produce nickel, copper, platinum, palladium, rhodium and gold.

Ivanhoe Mines was founded in 1993 by mining entrepreneur Robert Friedland and has built a portfolio concentrated in Southern and Central Africa.