Ivanhoe Mines (TSE:IVN) Price Target Cut to C$11.50 by Analysts at Canaccord Genuity Group

Ivanhoe Mines (TSE:IVN) had its target price cut by investment analysts at Canaccord Genuity Group from C$15.00 to C$11.50 in a research report issued to clients and investors on Monday,BayStreet.CA reports. The firm presently has a “hold” rating on the stock. Canaccord Genuity Group’s target price suggests a potential upside of 9.11% from the company’s current price.

IVN has been the subject of several other reports. BMO Capital Markets dropped their target price on shares of Ivanhoe Mines from C$23.00 to C$16.00 in a research report on Wednesday, April 1st. Scotiabank cut shares of Ivanhoe Mines from an “outperform” rating to a “hold” rating and lowered their price objective for the company from C$19.00 to C$14.50 in a research report on Wednesday, April 1st. 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 report on Wednesday, April 1st. Jefferies Financial Group lowered 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 report on Monday, December 8th. Finally, Stifel Nicolaus reduced their target price on Ivanhoe Mines from C$22.00 to C$15.00 in a research note on Wednesday, April 1st. Three equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of C$15.10.

Ivanhoe Mines Price Performance

Shares of IVN stock traded up C$0.10 on Monday, reaching C$10.54. The company’s stock had a trading volume of 2,386,224 shares, compared to its average volume of 4,803,974. The company has a market capitalization of C$15.03 billion, a P/E ratio of 55.47 and a beta of 1.74. Ivanhoe Mines has a 12-month low of C$8.76 and a 12-month high of C$20.34. The stock’s 50 day simple moving average is C$14.55 and its 200-day simple moving average is C$14.57. 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 results 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 return on equity of 4.76% and a net margin of 59.26%. As a group, equities analysts predict that Ivanhoe Mines will post 1.0136483 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Ivanhoe Mines news, Director Peter Meredith sold 13,459 shares of Ivanhoe Mines stock in a transaction that occurred 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 transaction, the director directly owned 841,256 shares of the company’s stock, valued at approximately C$13,821,836.08. This trade represents a 1.57% decrease in their ownership of the stock. Insiders have sold 16,559 shares of company stock worth $272,125 in the last quarter. 44.96% of the stock is owned by company 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.