Ivanhoe Mines (TSE:IVN) Price Target Lowered to C$13.00 at TD Securities

Ivanhoe Mines (TSE:IVN) had its price target dropped by stock analysts at TD Securities from C$19.00 to C$13.00 in a report released on Wednesday,BayStreet.CA reports. The firm presently has a “buy” rating on the stock. TD Securities’ target price would indicate a potential upside of 22.53% from the stock’s current price.

Other equities analysts have also issued research reports about the stock. Canaccord Genuity Group lowered shares of Ivanhoe Mines from a “buy” rating to a “hold” rating and dropped their target price for the stock from C$18.00 to C$15.00 in a research report on Friday, February 20th. Raymond James Financial cut Ivanhoe Mines from an “outperform” rating to a “market perform” rating and reduced their target price for the stock from C$23.00 to C$17.00 in a report on Wednesday. Stifel Nicolaus decreased their price objective on Ivanhoe Mines from C$22.00 to C$15.00 in a report on Wednesday. Scotiabank lowered shares of Ivanhoe Mines from an “outperform” rating to a “sector perform” rating and lowered their price objective for the company from C$19.00 to C$14.50 in a research report on Wednesday. Finally, Jefferies Financial Group cut shares of Ivanhoe Mines from a “buy” rating to a “hold” rating and dropped their price objective for the stock from C$18.00 to C$16.00 in a research note on Monday, December 8th. Four analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of C$15.45.

Ivanhoe Mines Price Performance

Shares of IVN traded down C$1.28 during trading hours on Wednesday, reaching C$10.61. 9,405,891 shares of the stock traded hands, compared to its average volume of 4,687,871. The company has a market cap of C$15.13 billion, a P/E ratio of 55.84 and a beta of 1.40. The company has a current ratio of 2.23, a quick ratio of 20.86 and a debt-to-equity ratio of 21.62. The company’s 50-day moving average price is C$14.91 and its two-hundred day moving average price is C$14.63. Ivanhoe Mines has a 52-week low of C$8.76 and a 52-week high of C$20.34.

Ivanhoe Mines (TSE:IVN) last released its quarterly earnings data 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 during the quarter. Ivanhoe Mines had a return on equity of 4.76% and a net margin of 59.26%. On average, analysts anticipate that Ivanhoe Mines will post 1.0136483 earnings per share for the current year.

Insider Buying and Selling at Ivanhoe Mines

In related 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 transaction 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 trade represents a 1.57% decrease in their position. Insiders sold 16,559 shares of company stock valued at $272,125 in the last quarter. Corporate 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.