Streetbeat News

IVPAF

Ivanhoe Mines Ltd.

https://www.ivanhoemines.com/

Industry

Dimension Stone Mining and Quarrying

Open

12.83

Mkt cap

17B

Volume

2.3K

High

12.83

P/E Ratio

104.67

52-wk high

15.60

Low

12.50

Div yield

N/A

52-wk low

7.64

The Bank of Canada has cut interest rates by 0.25%, citing easing inflation and slower-than-expected economic growth. This decision led to a rally in Canadian stocks and a drop in the Canadian dollar. The iShares MSCI Canada Index Fund (NYSE:EWC) saw a 0.4% increase, with top performers including GFL Environmental Inc. (NYSE:GFL), First Quantum Minerals Ltd. (OTCPK:FQVLF), and Ivanhoe Mines Ltd. (OTCPK:IVPAF).

Portfolio Pulse from Piero Cingari

June 05, 2024 | 2:31 pm

Raymond James analyst Farooq Hamed has maintained an Outperform rating on Ivanhoe Mines (OTC:IVPAF) and increased the price target from $18 to $19.

Portfolio Pulse from Benzinga Newsdesk

March 20, 2024 | 5:08 pm

The U.S. is increasing its involvement in African mining and infrastructure to compete with China's dominance in strategic mineral supply chains, focusing on the Copperbelt region for cobalt and copper crucial for decarbonization. The U.S. supports the Lobito corridor rail project, which will reduce transportation costs for mining companies like Ivanhoe Mines Ltd, potentially joined by Anglo American, Barrick Gold Corp, and First Quantum Minerals Ltd. This move is part of a broader strategy to secure supplies of essential minerals for renewable energy.

Portfolio Pulse from Matt Whittaker

February 12, 2024 | 5:09 pm

KoBold Metals, supported by billionaires including Bill Gates and Jeff Bezos, announced a historic copper discovery in Zambia, potentially the largest in the country's history. The Mingomba asset could rival the Kamoa-Kakula mine, operated by Ivanhoe Mines Ltd (OTC:IVPAF) and Zijin Mining Group (OTC:ZIJMF), which produced almost 400,000 tons of copper in 2023. KoBold plans to fast-track the development of this $2 billion mine for production in the early 2030s. The company spent $100 million on exploration in 2023, with plans to exceed this in 2024, aligning with the spending of giants like BHP Group (NYSE:BHP) and Rio Tinto Ltd. (OTC:RTNTF).

Portfolio Pulse from Stjepan Kalinic

February 05, 2024 | 8:22 pm

Ivanhoe Mines (OTC:IVPAF) has entered into a joint venture with Gécamines to revive the Kipushi mine in the DRC, inactive for 30 years. The mine is known for its rich zinc orebody and other metals. Gécamines will increase its stake in Kipushi Corporation to 38%, and eventually to 80% after certain reserves are mined. Production is expected to start in Q2 2024 with an annual output of over 250,000 tons of zinc. However, the zinc market is currently facing challenges with flat prices and oversupply predicted for 2024.

Portfolio Pulse from Stjepan Kalinic

January 17, 2024 | 5:16 pm

Scotiabank has maintained its 'Outperform' rating on Ivanhoe Mines (OTC:IVPAF) but lowered the price target from C$16 to C$15. The adjustment was announced by Scotiabank analyst Orest Wowkodaw.

Portfolio Pulse from Benzinga Newsdesk

June 28, 2023 | 6:57 pm

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