Ivanhoe Mines (TSE:IVN) Sets New 1-Year Low – Should You Sell?

Shares of Ivanhoe Mines Ltd. (TSE:IVN) reached a new 52-week low on Friday . The company traded as low as C$9.51 and last traded at C$9.52, with a volume of 295783 shares. The stock had previously closed at C$9.98.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on IVN shares. Raymond James Financial lowered shares of Ivanhoe Mines from a “moderate buy” rating to a “hold” rating and reduced their target price for the company from C$23.00 to C$17.00 in a research note on Wednesday, April 1st. Scotiabank raised their price target on shares of Ivanhoe Mines from C$13.00 to C$13.50 and gave the company a “sector perform” rating in a research note on Monday, June 15th. Citigroup dropped their price target on shares of Ivanhoe Mines from C$18.00 to C$13.00 and set a “buy” rating on the stock in a research note on Thursday, April 9th. Stifel Nicolaus cut their price target on Ivanhoe Mines from C$22.00 to C$15.00 in a report on Wednesday, April 1st. Finally, BMO Capital Markets reduced their price objective on Ivanhoe Mines from C$23.00 to C$16.00 in a research report on Wednesday, April 1st. Four research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of C$14.24.

Ivanhoe Mines Trading Down 1.7%

The stock has a market capitalization of C$13.99 billion, a P/E ratio of 109.00 and a beta of 1.58. The business has a 50 day simple moving average of C$11.41 and a 200-day simple moving average of C$13.21. The company has a debt-to-equity ratio of 21.02, a quick ratio of 20.86 and a current ratio of 2.33.

Insiders Place Their Bets

In related news, Director Setha Patricia Makhesha sold 5,200 shares of Ivanhoe Mines stock in a transaction dated Thursday, May 21st. The stock was sold at an average price of C$11.45, for a total transaction of C$59,540.00. Following the transaction, the director directly owned 77,922 shares of the company’s stock, valued at C$892,206.90. The trade was a 6.26% decrease in their ownership of the stock. Insiders sold a total of 10,000 shares of company stock worth $114,554 over the last ninety days. Company 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.