Ivanhoe Mines (TSE:IVN) Stock Dropped to “Hold” by Stifel Nicolaus

Ivanhoe Mines (TSE:IVN) was downgraded by investment analysts at Stifel Nicolaus from a “buy” rating to a “hold” rating in a report issued on Wednesday, BayStreet reports. They currently have a C$12.50 price target on the stock, down from their previous price target of C$17.00. Stifel Nicolaus‘s price target suggests a potential upside of 48.63% from the company’s previous close.

Several other brokerages also recently issued reports on IVN. Scotia raised their price objective on shares of Ivanhoe Mines from C$13.00 to C$13.50 and gave the stock a “sector perform” rating in a research note on Wednesday, September 9th. Canaccord Genuity Group upped their target price on Ivanhoe Mines from C$13.00 to C$15.00 and gave the company a “buy” rating in a research note on Wednesday, September 9th. Morgan Stanley upgraded Ivanhoe Mines from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from C$12.00 to C$13.20 in a report on Wednesday, July 8th. Finally, Raymond James Financial decreased their price target on Ivanhoe Mines from C$15.50 to C$12.00 and set a “market perform” rating for the company in a research note on Wednesday. Four analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of C$13.77.

Ivanhoe Mines Stock Performance

TSE:IVN traded down C$0.47 during mid-day trading on Wednesday, hitting C$8.41. 13,143,067 shares of the company traded hands, compared to its average volume of 4,446,503. The stock’s fifty day moving average price is C$11.35 and its 200-day moving average price is C$12.28. Ivanhoe Mines has a one year low of C$7.64 and a one year high of C$20.34. The company has a quick ratio of 20.86, a current ratio of 2.16 and a debt-to-equity ratio of 21.70. The firm has a market cap of C$12.00 billion, a price-to-earnings ratio of 93.44 and a beta of 1.60.

Ivanhoe Mines (TSE:IVN) last posted its quarterly earnings results on Tuesday, November 3rd. The company reported C$0.06 EPS for the quarter. Ivanhoe Mines had a return on equity of 2.32% and a net margin of 23.46%. The company had revenue of C$375.60 million for the quarter. Research analysts anticipate that Ivanhoe Mines will post 1.01 earnings per share for the current fiscal year.

Ivanhoe Mines Company Profile

Ivanhoe Mines is a Canadian mining company focused on advancing its three principal operations in Southern Africa; the Kamoa-Kakula Copper Complex in the DRC, the ultra-high-grade Kipushi zinc-copper-germanium-silver mine, also in the DRC; and the tier-one Platreef platinum-palladium-nickel-rhodium-gold-copper mine in South Africa. Ivanhoe Mines is exploring for copper in its highly prospective, 54-100% owned exploration licences in the Western Forelands, covering an area over six times larger than the adjacent Kamoa-Kakula Copper Complex, including the high-grade discoveries in the Makoko District.