Ivanhoe Mines (TSE:IVN) Downgraded to Sector Perform Rating by Royal Bank Of Canada

Royal Bank Of Canada cut shares of Ivanhoe Mines (TSE:IVN) from an outperform rating to a sector perform rating in a research note published on Monday,BayStreet.CA reports.

Other equities research analysts also recently issued research reports about the stock. Canaccord Genuity Group lowered their price objective on shares of Ivanhoe Mines from C$15.00 to C$11.50 and set a “hold” rating on the stock in a research note on Monday. Scotiabank cut Ivanhoe Mines from an “outperform” rating to a “hold” rating and reduced their target price for the stock from C$19.00 to C$14.50 in a research report on Wednesday, April 1st. Raymond James Financial cut Ivanhoe Mines from a “moderate buy” rating to a “hold” rating and reduced their target price for the stock from C$23.00 to C$17.00 in a research report on Wednesday, April 1st. Jefferies Financial Group cut Ivanhoe Mines from a “buy” rating to a “hold” rating and reduced their target price for the stock from C$18.00 to C$16.00 in a research report on Monday, December 8th. Finally, TD Securities reduced their target price on Ivanhoe Mines from C$19.00 to C$13.00 and set a “buy” rating for the company in a research report on Wednesday, April 1st. Three research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of C$15.10.

Ivanhoe Mines Trading Up 0.6%

Shares of Ivanhoe Mines stock opened at C$10.50 on Monday. The company’s fifty day simple moving average is C$14.40 and its 200-day simple moving average is C$14.56. The company has a market cap of C$14.97 billion, a price-to-earnings ratio of 55.26 and a beta of 1.74. The company has a current ratio of 2.23, a quick ratio of 20.86 and a debt-to-equity ratio of 21.62. 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, February 18th. The company reported C$0.06 earnings per share (EPS) for the quarter. The business had revenue of C$183.99 million for the quarter. Ivanhoe Mines had a net margin of 59.26% and a return on equity of 4.76%. As a group, sell-side analysts expect that Ivanhoe Mines will post 1.0136483 EPS for the current year.

Insider Buying and Selling

In related news, Director Peter Meredith sold 13,459 shares of the firm’s stock in a transaction on Tuesday, January 13th. The stock was sold at an average price of C$16.43, for a total value of C$221,131.37. Following the completion of the transaction, the director directly owned 841,256 shares of the company’s stock, valued at C$13,821,836.08. This trade represents a 1.57% decrease in their ownership of the stock. Insiders sold 16,559 shares of company stock valued at $272,125 over the last three months. 44.96% of the stock is owned by company insiders.

About Ivanhoe Mines

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.