Ivanhoe Mines (OTCMKTS:IVPAF) Issues Earnings Results, Misses Estimates By $0.03 EPS

Ivanhoe Mines (OTCMKTS:IVPAF) posted its earnings results on Wednesday. The company reported $0.03 EPS for the quarter, missing the consensus estimate of $0.06 by ($0.03), Zacks reports. 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.

Ivanhoe Mines Price Performance

Ivanhoe Mines stock opened at $7.54 on Friday. The stock has a market capitalization of $10.76 billion, a price-to-earnings ratio of 83.81 and a beta of 0.90. Ivanhoe Mines has a 52-week low of $6.75 and a 52-week high of $15.00. The stock’s 50 day moving average price is $7.94 and its two-hundred day moving average price is $9.29. The company has a debt-to-equity ratio of 0.17, a quick ratio of 2.16 and a current ratio of 2.33.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on IVPAF shares. Morgan Stanley raised shares of Ivanhoe Mines from a “negative” rating to an “overweight” rating in a research note on Wednesday, July 8th. Jefferies Financial Group reissued a “hold” rating on shares of Ivanhoe Mines in a research note on Monday, July 6th. Canaccord Genuity Group raised Ivanhoe Mines from a “hold” rating to a “strong-buy” rating in a research note on Monday, July 20th. Royal Bank Of Canada cut Ivanhoe Mines from a “moderate buy” rating to a “hold” rating in a report on Monday, April 6th. Finally, Scotiabank restated a “sector perform” rating on shares of Ivanhoe Mines in a report on Monday, June 15th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $15.20.

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.