Ivanhoe Mines (TSE:IVN) Issues Earnings Results

Ivanhoe Mines (TSE:IVN) issued its quarterly earnings results on Wednesday. The company reported C$0.06 EPS for the quarter, FiscalAI reports. The business had revenue of C$183.99 million for the quarter.

Ivanhoe Mines Price Performance

TSE:IVN opened at C$15.60 on Friday. Ivanhoe Mines has a 52 week low of C$8.76 and a 52 week high of C$20.34. 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’s 50-day simple moving average is C$16.29 and its 200 day simple moving average is C$14.33. The firm has a market cap of C$22.15 billion, a price-to-earnings ratio of 70.91 and a beta of 1.91.

Insider Transactions at Ivanhoe Mines

In other news, Director Peter Meredith sold 13,459 shares of the stock in a transaction 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 sale, the director directly owned 841,256 shares of the company’s stock, valued at approximately C$13,821,836.08. This represents a 1.57% decrease in their position. Also, insider Citic Metal Africa Investments Limited sold 350,000 shares of the firm’s stock in a transaction dated Tuesday, December 30th. The shares were sold at an average price of C$15.71, for a total transaction of C$5,498,500.00. Over the last ninety days, insiders have sold 566,849 shares of company stock valued at $8,458,448. 44.96% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on IVN shares. Scotiabank increased their price target on 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. Stifel Nicolaus dropped their price objective on shares of Ivanhoe Mines from C$28.00 to C$22.00 and set a “buy” rating on the stock in a research report on Wednesday, February 11th. Finally, Jefferies Financial Group cut shares of Ivanhoe Mines from a “buy” rating to a “hold” rating and cut their target price for the stock from C$18.00 to C$16.00 in a research note on Monday, December 8th. Six research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat, Ivanhoe Mines presently has an average rating of “Moderate Buy” and a consensus price target of C$17.95.

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.