Ivanhoe Mines (OTCMKTS:IVPAF) Cut to “Hold” at Stifel Nicolaus

Stifel Nicolaus lowered shares of Ivanhoe Mines (OTCMKTS:IVPAF) from a strong-buy rating to a hold rating in a report released on Wednesday morning,Zacks reports.

IVPAF has been the subject of a number of other reports. Scotiabank reaffirmed a “sector perform” rating on shares of Ivanhoe Mines in a research note on Wednesday, September 9th. 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. Citigroup reissued a “buy” rating on shares of Ivanhoe Mines in a research note on Wednesday, October 14th. Finally, Morgan Stanley reissued an “overweight” rating on shares of Ivanhoe Mines in a report on Wednesday, October 7th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $15.20.

Ivanhoe Mines Price Performance

Shares of IVPAF stock traded up $0.03 during trading hours on Wednesday, hitting $5.86. 310,307 shares of the company’s stock were exchanged, compared to its average volume of 354,927. The stock’s 50-day moving average is $7.90 and its 200-day moving average is $8.77. The company has a debt-to-equity ratio of 0.18, a current ratio of 2.16 and a quick ratio of 1.89. The stock has a market cap of $8.36 billion, a price-to-earnings ratio of 53.28 and a beta of 1.33. Ivanhoe Mines has a 52 week low of $5.50 and a 52 week high of $15.00.

Ivanhoe Mines (OTCMKTS:IVPAF) last released its quarterly earnings results on Tuesday, November 3rd. The company reported $0.04 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.05). The business had revenue of $263.84 million during the quarter, compared to the consensus estimate of $274.00 million. Ivanhoe Mines had a net margin of 23.47% and a return on equity of 5.07%. As a group, research analysts forecast that Ivanhoe Mines will post 0.23 EPS for the current year.

About Ivanhoe Mines

Ivanhoe Mines Ltd. is a Canadian mining and mineral exploration company focused on developing and operating large-scale projects in Africa. Its principal commodities include copper, zinc, platinum-group metals, nickel, copper and gold.

The company’s flagship Kamoa-Kakula Copper Complex in the Democratic Republic of the Congo is being developed as a major copper mining and processing operation. Ivanhoe also holds the Kipushi zinc-copper-silver-germanium mine in the Democratic Republic of the Congo, as well as the Platreef platinum-group metals, nickel, copper and gold project in South Africa.

Ivanhoe’s exploration portfolio includes the Western Foreland project in the Democratic Republic of the Congo, an extensive exploration area near Kamoa-Kakula.