Ivanhoe Mines (OTCMKTS:IVPAF) Stock Rating Upgraded by Citigroup

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

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

Ivanhoe Mines Trading Down 2.9%

Shares of Ivanhoe Mines stock opened at $7.65 on Monday. Ivanhoe Mines has a 1-year low of $6.50 and a 1-year high of $15.53. The company has a market cap of $10.36 billion and a PE ratio of 15.46. The company has a 50 day moving average of $8.93 and a 200-day moving average of $10.31.

Ivanhoe Mines (OTCMKTS:IVPAF) last announced its quarterly earnings results on Wednesday, April 30th. The company reported $0.10 EPS for the quarter, beating analysts’ consensus estimates of $0.07 by $0.03. The firm had revenue of $77.02 million for the quarter, compared to analyst estimates 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.