Ivanhoe Mines (OTCMKTS:IVPAF) Upgraded to “Strong-Buy” at Citigroup

Ivanhoe Mines (OTCMKTS:IVPAF) was upgraded by equities research analysts at Citigroup to a “strong-buy” rating in a research note issued on Monday,Zacks.com reports.

Several other analysts have also recently weighed in on IVPAF. Scotiabank cut Ivanhoe Mines from a “strong-buy” rating to a “hold” rating in a report on Thursday, June 12th. Canaccord Genuity Group upgraded shares of Ivanhoe Mines to a “strong-buy” rating in a research report on Friday, June 13th. UBS Group upgraded shares of Ivanhoe Mines to a “strong-buy” rating in a research report on Thursday, June 12th. Finally, TD Securities raised shares of Ivanhoe Mines to a “strong-buy” rating in a research note on Tuesday, June 3rd. One research analyst has rated the stock with a hold rating and four have issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Strong Buy”.

Ivanhoe Mines Price Performance

Shares of OTCMKTS:IVPAF opened at $7.65 on Monday. The firm has a fifty day moving average price of $8.93 and a two-hundred day moving average price of $10.31. The company has a market cap of $10.36 billion and a price-to-earnings ratio of 15.46. Ivanhoe Mines has a one year low of $6.50 and a one year high of $15.53.

Ivanhoe Mines (OTCMKTS:IVPAF) last issued its quarterly earnings data on Wednesday, April 30th. The company reported $0.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.07 by $0.03. The business had revenue of $77.02 million during the quarter, compared to analysts’ expectations of $108.71 million.

Ivanhoe Mines Company Profile

Ivanhoe Mines Ltd. engages in the mining, development, and exploration of minerals and precious metals primarily in Africa. It explores for platinum, palladium, nickel, copper, gold, rhodium, zinc, silver, germanium, and lead deposits. The company's projects include the Platreef project located in the Northern Limb of South Africa's Bushveld Complex; the Kipushi project located in Haut-Katanga Province, Democratic Republic of Congo; and the Kamoa-Kakula project located within the Central African Copperbelt.