Ivanhoe Mines Ltd. (TSE:IVN) Given Consensus Recommendation of “Hold” by Brokerages

Shares of Ivanhoe Mines Ltd. (TSE:IVN) have earned an average recommendation of “Hold” from the eight brokerages that are currently covering the stock, MarketBeat.com reports. Five equities research analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is C$14.60.

IVN has been the topic of several recent analyst reports. Scotiabank downgraded shares of Ivanhoe Mines from an “outperform” rating to a “hold” rating and reduced their price objective for the company from C$19.00 to C$14.50 in a research note on Wednesday, April 1st. TD Securities reduced their price objective on shares of Ivanhoe Mines from C$19.00 to C$13.00 and set a “buy” rating on the stock in a research note on Wednesday, April 1st. Canaccord Genuity Group reduced their price objective on shares of Ivanhoe Mines from C$15.00 to C$11.50 and set a “hold” rating on the stock in a research note on Monday, April 6th. Royal Bank Of Canada downgraded Ivanhoe Mines from a “moderate buy” rating to a “hold” rating in a research report on Monday, April 6th. Finally, BMO Capital Markets reduced their target price on Ivanhoe Mines from C$23.00 to C$16.00 in a research report on Wednesday, April 1st.

Ivanhoe Mines Stock Performance

Shares of IVN opened at C$12.21 on Friday. The company has a debt-to-equity ratio of 21.02, a quick ratio of 20.86 and a current ratio of 2.33. The company has a market capitalization of C$17.41 billion, a price-to-earnings ratio of 135.67 and a beta of 1.76. The company’s 50 day simple moving average is C$11.57 and its 200 day simple moving average is C$13.86. Ivanhoe Mines has a 1 year low of C$8.76 and a 1 year high of C$20.34.

Insiders Place Their Bets

In related news, Director Setha Patricia Makhesha sold 5,200 shares of the stock in a transaction dated Thursday, May 21st. The stock was sold at an average price of C$11.45, for a total transaction of C$59,540.00. Following the transaction, the director directly owned 77,922 shares in the company, valued at approximately C$892,206.90. This represents a 6.26% decrease in their ownership of the stock. Insiders sold 10,000 shares of company stock worth $114,554 in the last quarter. Corporate insiders own 44.96% of the company’s stock.

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.