Ivanhoe Mines (TSE:IVN) Posts Earnings Results

Ivanhoe Mines (TSE:IVN) announced its earnings results on Wednesday. The company reported C$0.04 earnings per share for the quarter, FiscalAI reports. The company had revenue of C$216.83 million during the quarter. Ivanhoe Mines had a return on equity of 2.32% and a net margin of 24.92%.

Ivanhoe Mines Price Performance

Shares of IVN stock opened at C$10.59 on Thursday. The firm’s 50 day moving average price is C$11.18 and its two-hundred day moving average price is C$12.88. The company has a debt-to-equity ratio of 21.02, a quick ratio of 20.86 and a current ratio of 2.33. Ivanhoe Mines has a 52-week low of C$9.45 and a 52-week high of C$20.34. The stock has a market cap of C$15.10 billion, a PE ratio of 117.67 and a beta of 1.58.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on IVN. Stifel Nicolaus decreased their price objective on shares of Ivanhoe Mines from C$22.00 to C$15.00 in a report on Wednesday, April 1st. Canaccord Genuity Group upgraded shares of Ivanhoe Mines from a “hold” rating to a “buy” rating and upped their target price for the stock from C$12.00 to C$13.00 in a research report on Tuesday, July 21st. Morgan Stanley raised shares of Ivanhoe Mines from an “equal weight” rating to an “overweight” rating and increased their price target for the company from C$12.00 to C$13.20 in a research note on Wednesday, July 8th. BMO Capital Markets lowered their price target on shares of Ivanhoe Mines from C$23.00 to C$16.00 in a report on Wednesday, April 1st. Finally, TD Securities dropped their price objective on shares of Ivanhoe Mines from C$19.00 to C$13.00 and set a “buy” rating for the company in a research report on Wednesday, April 1st. Five equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, Ivanhoe Mines presently has a consensus rating of “Moderate Buy” and an average price target of C$14.41.

Insider Activity at Ivanhoe Mines

In other news, Director Setha Patricia Makhesha sold 5,200 shares of the stock in a transaction on Thursday, May 21st. The stock was sold at an average price of C$11.45, for a total value of C$59,540.00. Following the transaction, the director owned 77,922 shares of the company’s stock, valued at C$892,206.90. This represents a 6.26% decrease in their position. In the last three months, insiders have sold 10,000 shares of company stock worth $114,554. 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.