Shares of Ivanhoe Mines Ltd. (OTCMKTS:IVPAF – Get Free Report) rose 7.1% on Friday . The company traded as high as $8.88 and last traded at $8.88. Approximately 55,145 shares traded hands during trading, a decline of 88% from the average session volume of 467,078 shares. The stock had previously closed at $8.29.
Analyst Upgrades and Downgrades
IVPAF has been the topic of several analyst reports. Morgan Stanley upgraded shares of Ivanhoe Mines from a “negative” rating to an “overweight” rating in a report on Wednesday, July 8th. Canaccord Genuity Group raised Ivanhoe Mines from a “hold” rating to a “strong-buy” rating in a research note on Monday, July 20th. Scotiabank reissued a “sector perform” rating on shares of Ivanhoe Mines in a research note on Monday, June 15th. Finally, Jefferies Financial Group restated a “hold” rating on shares of Ivanhoe Mines in a research report on Monday, July 6th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $15.20.
Check Out Our Latest Stock Analysis on IVPAF
Ivanhoe Mines Stock Up 8.0%
Ivanhoe Mines (OTCMKTS:IVPAF – Get Free Report) last announced its earnings results on Wednesday, July 29th. The company reported $0.03 EPS for the quarter, missing the consensus estimate of $0.06 by ($0.03). Ivanhoe Mines had a return on equity of 5.10% 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. Equities research analysts forecast that Ivanhoe Mines Ltd. will post 0.31 EPS for the current year.
Ivanhoe Mines Company Profile
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.
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