In a latest note to investors, a research analyst has provided a rating update for the Ivanhoe Mines Cl A (IVN). CIBC’s analyst Oscar Cabrera reiterates their Hold rating on the shares, with a C$3.30 price target.
According to TipRanks.com, Cabrera is ranked 0 out of 5 stars with an average return of -12.8% and a 35.6% success rate. Cabrera covers the Basic Materials sector, focusing on stocks such as First Quantum Minerals Ltd, Trevali Mining Corporation, and Teck Resources Limited.
Ivanhoe Mines Cl A has an analyst consensus of Moderate Buy, with a price target consensus of C$5.10.
Based on Ivanhoe Mines Cl A’s latest earnings release for the quarter ending September 30, the company reported a quarterly GAAP net loss of C$1.51 million. In comparison, last year the company had a net profit of C$250 million.
Ivanhoe Mines Ltd. engages in the exploration and development of mineral properties. It explores for copper, nickel, gold, zinc, and platinum-group elements. The company was founded by Robert Martin Friedland on April 29, 1993 and is headquartered in Vancouver, Canada.
The company’s shares closed on Friday at C$3.25.
