Ivanhoe Mines (TSE:IVN) Cut to “Hold” at Royal Bank Of Canada

Royal Bank Of Canada cut shares of Ivanhoe Mines (TSE:IVN) from a moderate buy rating to a hold rating in a report issued on Monday morning, Marketbeat Ratings reports.

Several other brokerages have also recently commented on IVN. Jefferies Financial Group cut shares of Ivanhoe Mines from a “buy” rating to a “hold” rating and decreased their price target for the stock from C$18.00 to C$16.00 in a research note on Monday, December 8th. TD Securities decreased their target price on shares of Ivanhoe Mines from C$19.00 to C$13.00 and set a “buy” rating on the stock in a research report on Wednesday, April 1st. BMO Capital Markets decreased their target price on shares of Ivanhoe Mines from C$23.00 to C$16.00 in a research report on Wednesday, April 1st. Canaccord Genuity Group decreased their target price on shares of Ivanhoe Mines from C$15.00 to C$11.50 and set a “hold” rating on the stock in a research report on Monday. Finally, Stifel Nicolaus decreased their price objective on Ivanhoe Mines from C$22.00 to C$15.00 in a research report on Wednesday, April 1st. Three investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat.com, Ivanhoe Mines presently has a consensus rating of “Hold” and an average price target of C$15.10.

Ivanhoe Mines Stock Up 6.2%

Shares of IVN stock opened at C$10.96 on Monday. The stock has a market cap of C$15.63 billion, a P/E ratio of 57.68 and a beta of 1.74. Ivanhoe Mines has a 52 week low of C$8.76 and a 52 week high of C$20.34. The company has a quick ratio of 20.86, a current ratio of 2.23 and a debt-to-equity ratio of 21.62. The company’s fifty day simple moving average is C$14.08 and its two-hundred day simple moving average is C$14.51.

Ivanhoe Mines (TSE:IVN) last announced its quarterly earnings results on Wednesday, February 18th. The company reported C$0.06 EPS for the quarter. The business 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%. Analysts predict that Ivanhoe Mines will post 1.0136483 EPS for the current fiscal year.

Insider Activity

In other news, Director Peter Meredith sold 13,459 shares of the firm’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 value of C$221,131.37. Following the completion of the sale, the director directly owned 841,256 shares of the company’s stock, valued at C$13,821,836.08. This trade represents a 1.57% decrease in their position. Over the last three months, insiders sold 16,559 shares of company stock valued at $272,125. 44.96% of the stock is owned by company insiders.

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.