Ivanhoe Mines (TSE:IVN) Downgraded to “Sector Perform” Rating by Scotiabank

Ivanhoe Mines (TSE:IVN) was downgraded by stock analysts at Scotiabank from an “outperform” rating to a “sector perform” rating in a report released on Wednesday,BayStreet.CA reports. They presently have a C$14.50 target price on the stock, down from their previous target price of C$19.00. Scotiabank’s price target suggests a potential upside of 36.66% from the stock’s current price.

IVN has been the subject of several other research reports. Stifel Nicolaus reduced their target price on shares of Ivanhoe Mines from C$22.00 to C$15.00 in a research note on Wednesday. Jefferies Financial Group lowered Ivanhoe Mines from a “buy” rating to a “hold” rating and reduced their target price for the company from C$18.00 to C$16.00 in a report on Monday, December 8th. Finally, Canaccord Genuity Group cut shares of Ivanhoe Mines from a “buy” rating to a “hold” rating and lowered their target price for the stock from C$18.00 to C$15.00 in a research note on Friday, February 20th. Four analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of C$15.45.

Ivanhoe Mines Trading Down 10.8%

Ivanhoe Mines stock traded down C$1.28 during trading hours on Wednesday, reaching C$10.61. 9,405,891 shares of the company’s stock were exchanged, compared to its average volume of 4,687,871. The firm’s 50 day simple moving average is C$14.91 and its 200 day simple moving average is C$14.63. Ivanhoe Mines has a twelve month low of C$8.76 and a twelve month high of C$20.34. The firm has a market capitalization of C$15.13 billion, a PE ratio of 55.84 and a beta of 1.40. The company has a quick ratio of 20.86, a current ratio of 2.23 and a debt-to-equity ratio of 21.62.

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 for the quarter. Ivanhoe Mines had a net margin of 59.26% and a return on equity of 4.76%. Research analysts predict that Ivanhoe Mines will post 1.0136483 earnings per share for the current year.

Insider Transactions at Ivanhoe Mines

In other Ivanhoe Mines news, Director Peter Meredith sold 13,459 shares of the company’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 transaction, the director owned 841,256 shares in the company, valued at approximately C$13,821,836.08. This represents a 1.57% decrease in their position. Insiders have sold 16,559 shares of company stock valued at $272,125 over the last ninety days. 44.96% of the stock is owned by corporate insiders.

Ivanhoe Mines Company Profile

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.