Ivanhoe Mines Ltd. (OTCMKTS:IVPAF) Achieves Average “Buy” Rating by Brokerages

Shares of Ivanhoe Mines Ltd. (OTCMKTS:IVPAF – Get Rating) earned an average rating of “Buy” from the eight brokerages that currently cover the company, MarketBeat.com reports. One investment analyst rated the stock with a hold recommendation and three rated the company a buy recommendation. The 12-month average price target among analysts who have reported on the stock over the past year is $13.81.

The IVPAF has been the subject of several reports by research analysts. Raymond James raised his price target on Ivanhoe Mines from CA$13.00 to CA$13.50 in a Wednesday, April 20 research report. Scotiabank reduced its price target on Ivanhoe Mines from C$15.50 to C$15.00 in a Wednesday, May 11 research report. Canaccord Genuity Group raised its price target on Ivanhoe Mines from C$14.00 to C$14.50 and gave the company a “buy” rating in a research report on Wednesday, February 23. TD Securities raised its price target on Ivanhoe Mines from C$15.00 to C$16.50 in a Wednesday, February 23 research report. Finally, BMO Capital Markets raised its price target on Ivanhoe Mines from CA$15.00 to CA$16.50 in a Wednesday, February 23 research report.

OTCMKTS: IVPAF lost $0.04 in the midday session on Wednesday, hitting $7.58. 81,366 shares of the company were traded, against an average volume of 174,314. The company’s fifty-day moving average is $8.46 and its 200-day moving average is $8.48. Ivanhoe Mines has a 12-month low of $6.09 and a 12-month high of $10.32.

About Ivanhoe Mines (Get a rating)

Ivanhoe Mines Ltd. is engaged in the exploration, development and recovery of minerals and precious metals located primarily in Africa. It explores deposits of platinum, palladium, nickel, copper, gold, rhodium, zinc, silver, germanium and lead. The Company’s projects include the Platreef Project located in the Northern Branch of the Bushveld Complex in South Africa; the Kipushi project located in the Province of Haut-Katanga, Democratic Republic of Congo; and the Kamoa-Kakula project located in the Central African Copperbelt.

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