Citigroup Cuts Ivanhoe Mines (TSE:IVN) Price Target to C$13.00

Ivanhoe Mines (TSE:IVN) had its target price decreased by Citigroup from C$18.00 to C$13.00 in a research note issued to investors on Thursday,BayStreet.CA reports. Citigroup currently has a buy rating on the stock.

IVN has been the topic of several other reports. Stifel Nicolaus dropped their target price on Ivanhoe Mines from C$22.00 to C$15.00 in a report on Wednesday, April 1st. Canaccord Genuity Group dropped their target price on Ivanhoe Mines from C$15.00 to C$11.50 and set a “hold” rating on the stock in a report on Monday, April 6th. Royal Bank Of Canada lowered Ivanhoe Mines from a “moderate buy” rating to a “hold” rating in a report on Monday, April 6th. TD Securities dropped their target price on Ivanhoe Mines from C$19.00 to C$13.00 and set a “buy” rating on the stock in a report on Wednesday, April 1st. Finally, Raymond James Financial lowered Ivanhoe Mines from a “moderate buy” rating to a “hold” rating and dropped their target price for the stock from C$23.00 to C$17.00 in a report on Wednesday, April 1st. Three investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of C$14.60.

Ivanhoe Mines Stock Up 3.9%

Ivanhoe Mines stock opened at C$11.50 on Thursday. The firm has a market cap of C$16.40 billion, a price-to-earnings ratio of 60.53 and a beta of 1.74. Ivanhoe Mines has a 52 week low of C$8.76 and a 52 week high of C$20.34. The business’s 50-day moving average price is C$13.82 and its 200 day moving average price is C$14.49. The company has a quick ratio of 20.86, a current ratio of 2.23 and a debt-to-equity ratio of 21.62.

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

Insider Buying and Selling

In other Ivanhoe Mines news, Director Peter Meredith sold 13,459 shares of the firm’s stock in a transaction that occurred 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 sale, the director directly 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. Insiders sold 16,559 shares of company stock valued at $272,125 over the last quarter. 44.96% of the stock is currently owned by company insiders.

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.