Ivanhoe Mines (TSE:IVN) Stock Rating Lowered by Canaccord Genuity Group

Ivanhoe Mines (TSE:IVN) was downgraded by analysts at Canaccord Genuity Group from a “buy” rating to a “hold” rating in a research note issued on Friday, MarketBeat reports. They currently have a C$15.00 target price on the stock, down from their prior target price of C$18.00. Canaccord Genuity Group’s price target suggests a potential downside of 6.07% from the company’s current price.

Several other equities analysts have also issued reports on IVN. Stifel Nicolaus dropped their price target on Ivanhoe Mines from C$28.00 to C$22.00 and set a “buy” rating on the stock in a research note on Wednesday, February 11th. Scotiabank boosted their target price 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. Finally, Jefferies Financial Group lowered shares of Ivanhoe Mines from a “buy” rating to a “hold” rating and cut their target price for the stock from C$18.00 to C$16.00 in a research note on Monday, December 8th. Five analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Ivanhoe Mines has a consensus rating of “Moderate Buy” and a consensus price target of C$17.80.

Ivanhoe Mines Stock Performance

Shares of IVN opened at C$15.97 on Friday. The company has a current ratio of 1.36, a quick ratio of 20.86 and a debt-to-equity ratio of 2.48. The firm’s fifty day simple moving average is C$16.34 and its two-hundred day simple moving average is C$14.39. Ivanhoe Mines has a 12 month low of C$8.76 and a 12 month high of C$20.34. The stock has a market capitalization of C$22.67 billion, a P/E ratio of 72.59 and a beta of 1.91.

Ivanhoe Mines (TSE:IVN) last posted its quarterly earnings data on Wednesday, February 18th. The company reported C$0.06 earnings per share for the quarter. The business had revenue of C$183.99 million during the quarter. As a group, analysts predict that Ivanhoe Mines will post 1.0136483 EPS for the current year.

Insider Activity at Ivanhoe Mines

In other news, Director Peter Meredith sold 13,459 shares of Ivanhoe Mines stock in a transaction dated Tuesday, January 13th. The shares were sold at an average price of C$16.43, for a total transaction of C$221,131.37. Following the completion of the transaction, the director directly owned 841,256 shares in the company, valued at C$13,821,836.08. This trade represents a 1.57% decrease in their ownership of the stock. Also, insider Mark Sean Farren sold 14,300 shares of the business’s stock in a transaction dated Tuesday, December 16th. The stock was sold at an average price of C$13.38, for a total transaction of C$191,334.00. Following the sale, the insider directly owned 270,623 shares of the company’s stock, valued at approximately C$3,620,935.74. The trade was a 5.02% decrease in their ownership of the stock. In the last 90 days, insiders sold 566,849 shares of company stock valued at $8,458,448. 44.96% of the stock is 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.