BMO Capital Markets Cuts Ivanhoe Mines (TSE:IVN) Price Target to C$16.00

Ivanhoe Mines (TSE:IVN) had its target price trimmed by BMO Capital Markets from C$23.00 to C$16.00 in a research report report published on Wednesday,BayStreet.CA reports.

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

Ivanhoe Mines Price Performance

Ivanhoe Mines stock opened at C$10.44 on Wednesday. The firm has a market cap of C$14.89 billion, a PE ratio of 54.95 and a beta of 1.40. Ivanhoe Mines has a 52-week low of C$8.76 and a 52-week high of C$20.34. The company has a quick ratio of 20.86, a current ratio of 2.23 and a debt-to-equity ratio of 21.62. The company’s 50 day moving average is C$14.55 and its two-hundred day moving average is C$14.56.

Ivanhoe Mines (TSE:IVN) last posted its quarterly earnings results on Wednesday, February 18th. The company reported C$0.06 EPS for the quarter. The business had revenue of C$183.99 million during the quarter. Ivanhoe Mines had a net margin of 59.26% and a return on equity of 4.76%. On average, research analysts expect that Ivanhoe Mines will post 1.0136483 EPS for the current fiscal year.

Insider Activity

In other news, Director Peter Meredith sold 13,459 shares of Ivanhoe Mines stock in a transaction on 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 sale, the director directly owned 841,256 shares of the company’s stock, valued at approximately C$13,821,836.08. The trade was a 1.57% decrease in their position. Over the last three months, insiders have sold 16,559 shares of company stock worth $272,125. 44.96% of the stock is currently owned by insiders.

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.