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

Ivanhoe Mines Ltd. (OTCMKTS:IVPAF) has been given an average recommendation of “Moderate Buy” by the seven analysts that are covering the company, MarketBeat reports. Four analysts have rated the stock with a hold recommendation, two have given a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $15.20.

A number of research firms have weighed in on IVPAF. Morgan Stanley reissued an “overweight” rating on shares of Ivanhoe Mines in a report on Wednesday, October 7th. Scotiabank reaffirmed a “sector perform” rating on shares of Ivanhoe Mines in a research report on Wednesday, September 9th. Citigroup reaffirmed a “buy” rating on shares of Ivanhoe Mines in a research note on Wednesday, October 14th. Jefferies Financial Group reiterated a “hold” rating on shares of Ivanhoe Mines in a report on Monday, July 6th. Finally, Canaccord Genuity Group upgraded shares of Ivanhoe Mines from a “hold” rating to a “strong-buy” rating in a report on Monday, July 20th.

Ivanhoe Mines Trading Down 3.9%

IVPAF opened at $6.46 on Friday. Ivanhoe Mines has a 1-year low of $6.30 and a 1-year high of $15.00. The company has a current ratio of 2.16, a quick ratio of 1.89 and a debt-to-equity ratio of 0.18. The company has a market cap of $9.21 billion, a P/E ratio of 71.78 and a beta of 1.08. The company’s 50 day moving average is $8.19 and its 200-day moving average is $8.92.

Ivanhoe Mines (OTCMKTS:IVPAF) last announced its quarterly earnings results on Wednesday, July 29th. The company reported $0.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.06 by ($0.03). The company had revenue of $152.61 million for the quarter, compared to analyst estimates of $202.11 million. Ivanhoe Mines had a return on equity of 5.07% and a net margin of 23.47%. Equities research analysts predict that Ivanhoe Mines will post 0.30 earnings per share for the current fiscal 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.