Ivanhoe Mines (TSE:IVN) Cut to “Hold” at Canaccord Genuity Group

Canaccord Genuity Group downgraded shares of Ivanhoe Mines (TSE:IVN) from a buy rating to a hold rating in a research report sent to investors on Friday morning, MarketBeat.com reports. The firm currently has C$15.00 target price on the stock, down from their previous target price of C$18.00.

Several other equities research analysts have also issued reports on IVN. Jefferies Financial Group lowered shares of Ivanhoe Mines from a “buy” rating to a “hold” rating and dropped their target price for the company from C$18.00 to C$16.00 in a research report on Monday, December 8th. Scotiabank upped their price objective on shares of Ivanhoe Mines from C$18.50 to C$20.00 and gave the company an “outperform” rating in a research note on Thursday, January 8th. Finally, Stifel Nicolaus cut their price target on shares of Ivanhoe Mines from C$28.00 to C$22.00 and set a “buy” rating on the stock in a report on Wednesday, February 11th. Five analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, Ivanhoe Mines has a consensus rating of “Moderate Buy” and a consensus target price of C$17.80.

Ivanhoe Mines Price Performance

IVN opened at C$15.97 on Friday. The company has a debt-to-equity ratio of 2.48, a quick ratio of 20.86 and a current ratio of 1.36. The firm has a 50-day moving average of C$16.34 and a 200 day moving average of C$14.41. Ivanhoe Mines has a fifty-two week low of C$8.76 and a fifty-two week high of C$20.34. The firm has a market cap 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 results on Wednesday, February 18th. The company reported C$0.06 earnings per share for the quarter. The firm had revenue of C$183.99 million for the quarter. On average, research analysts expect that Ivanhoe Mines will post 1.0136483 EPS for the current year.

Insider Activity

In related news, insider Mark Sean Farren sold 60,000 shares of the stock in a transaction that occurred on Tuesday, December 16th. The shares were sold at an average price of C$13.40, for a total transaction of C$804,000.00. Following the transaction, the insider owned 174,923 shares in the company, valued at C$2,343,968.20. This represents a 25.54% decrease in their ownership of the stock. Also, Director Peter Meredith sold 13,459 shares of the stock in a transaction on 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 transaction, the director directly owned 841,256 shares in the company, valued at C$13,821,836.08. The trade was a 1.57% decrease in their ownership of the stock. Insiders sold 566,849 shares of company stock valued at $8,458,448 over the last three months. Insiders own 44.96% of the company’s stock.

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.