Stifel Nicolaus Lowers Ivanhoe Mines (TSE:IVN) Price Target to C$22.00

Ivanhoe Mines (TSE:IVN) had its price target cut by equities researchers at Stifel Nicolaus from C$28.00 to C$22.00 in a research report issued to clients and investors on Wednesday,BayStreet.CA reports. The firm presently has a “buy” rating on the stock. Stifel Nicolaus’ price objective indicates a potential upside of 31.82% from the company’s current price.

A number of other equities research analysts also recently commented on the stock. Scotiabank increased their price objective on shares of Ivanhoe Mines from C$18.50 to C$20.00 and gave the company an “outperform” rating in a research report on Thursday, January 8th. Jefferies Financial Group downgraded shares of Ivanhoe Mines from a “buy” rating to a “hold” rating and lowered their target price for the stock from C$18.00 to C$16.00 in a research note on Monday, December 8th. Six equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of C$17.95.

Ivanhoe Mines Price Performance

IVN stock opened at C$16.69 on Wednesday. The business’s 50-day moving average is C$16.05 and its two-hundred day moving average is C$14.14. The company has a debt-to-equity ratio of 2.48, a current ratio of 1.36 and a quick ratio of 20.86. The firm has a market capitalization of C$23.69 billion, a P/E ratio of 75.86 and a beta of 1.91. Ivanhoe Mines has a 1 year low of C$8.76 and a 1 year high of C$20.34.

Ivanhoe Mines (TSE:IVN) last announced its quarterly earnings data on Wednesday, October 29th. The company reported C$0.02 EPS for the quarter. The company had revenue of C$180.18 million for the quarter. Analysts anticipate that Ivanhoe Mines will post 1.0136483 earnings per share for the current fiscal year.

Insider Activity at Ivanhoe Mines

In other Ivanhoe Mines news, Director Peter Meredith sold 13,459 shares of the firm’s stock in a transaction dated Tuesday, January 13th. The stock was sold at an average price of C$16.43, for a total transaction of C$221,131.37. Following the transaction, the director owned 841,256 shares of the company’s stock, valued at approximately C$13,821,836.08. This trade represents a 1.57% decrease in their ownership of the stock. Also, insider Mark Sean Farren sold 60,000 shares of Ivanhoe Mines stock in a transaction dated Tuesday, December 16th. The stock was sold at an average price of C$13.40, for a total value of C$804,000.00. Following the sale, the insider owned 174,923 shares in the company, valued at C$2,343,968.20. This trade represents a 25.54% decrease in their position. Insiders have sold 566,849 shares of company stock valued at $8,458,448 in the last ninety days. Insiders own 44.96% of the company’s stock.

Ivanhoe Mines Company Profile

Ivanhoe Mines Ltd is a mineral exploration and development company. The company, together with its subsidiaries, explores, develops, and recovers minerals and precious gems from its property interests located in Africa. The group explores platinum, nickel, copper, gold, silver, cobalt, iron, vanadium, and chrome. It operates in four segments: Platreef property, Kamoa Holding joint venture, Kipushi properties, and the Company’s treasury offices.