Ivanhoe Mines (TSE:IVN) Price Target Cut to C$11.50 by Analysts at Canaccord Genuity Group

Ivanhoe Mines (TSE:IVN) had its price objective trimmed by Canaccord Genuity Group from C$15.00 to C$11.50 in a report published on Monday morning,BayStreet.CA reports. The firm currently has a hold rating on the stock.

Several other equities analysts have also commented on IVN. BMO Capital Markets lowered their price target on shares of Ivanhoe Mines from C$23.00 to C$16.00 in a research report on Wednesday, April 1st. Stifel Nicolaus lowered their price target on shares of Ivanhoe Mines from C$22.00 to C$15.00 in a research report on Wednesday, April 1st. Raymond James Financial lowered shares of Ivanhoe Mines from a “moderate buy” rating to a “hold” rating and decreased their target price for the company from C$23.00 to C$17.00 in a research report on Wednesday, April 1st. Scotiabank lowered shares of Ivanhoe Mines from an “outperform” rating to a “hold” rating and decreased their target price for the company from C$19.00 to C$14.50 in a research report on Wednesday, April 1st. Finally, TD Securities decreased their target price on shares of 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 equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of C$15.10.

Ivanhoe Mines Stock Up 0.6%

Ivanhoe Mines stock opened at C$10.50 on Monday. The company has a 50-day simple moving average of C$14.40 and a 200-day simple moving average of C$14.56. The firm has a market capitalization of C$14.97 billion, a P/E ratio of 55.26 and a beta of 1.74. The company has a debt-to-equity ratio of 21.62, a quick ratio of 20.86 and a current ratio of 2.23. Ivanhoe Mines has a one year low of C$8.76 and a one year high of C$20.34.

Ivanhoe Mines (TSE:IVN) last released its quarterly earnings results on Wednesday, February 18th. The company reported C$0.06 EPS for the quarter. The business had revenue of C$183.99 million during the quarter. Ivanhoe Mines had a net margin of 59.26% and a return on equity of 4.76%. As a group, equities analysts expect that Ivanhoe Mines will post 1.0136483 earnings per share for the current year.

Insiders Place Their Bets

In other Ivanhoe Mines news, Director Peter Meredith sold 13,459 shares of the company’s stock in a transaction dated Tuesday, January 13th. The shares were sold at an average price of C$16.43, for a total value of C$221,131.37. Following the completion of the sale, the director directly owned 841,256 shares of the company’s stock, valued at approximately C$13,821,836.08. This represents a 1.57% decrease in their position. Over the last three months, insiders have sold 16,559 shares of company stock valued at $272,125. 44.96% of the stock is currently owned by corporate 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.