Ivanhoe Mines (TSE:IVN) Sets New 12-Month Low – Here’s Why

Ivanhoe Mines Ltd. (TSE:IVN) shares hit a new 52-week low during mid-day trading on Friday. The stock traded as low as C$8.88 and last traded at C$8.95, with a volume of 1,468,058 shares changing hands. The stock had previously closed at C$9.41.

Analyst Ratings Changes

Several equities research analysts have weighed in on IVN shares. Canaccord Genuity Group raised their price objective on shares of Ivanhoe Mines from C$13.00 to C$15.00 and gave the company a “buy” rating in a research report on Wednesday, September 9th. Morgan Stanley raised shares of Ivanhoe Mines from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from C$12.00 to C$13.20 in a research report on Wednesday, July 8th. Stifel Nicolaus increased their target price on Ivanhoe Mines from C$15.00 to C$17.00 and gave the stock a “buy” rating in a research note on Wednesday, September 9th. Finally, Scotia increased their target price on Ivanhoe Mines from C$13.00 to C$13.50 and gave the stock a “sector perform” rating in a report on Wednesday, September 9th. Five research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of C$14.72.

Ivanhoe Mines Trading Down 3.8%

The stock has a market capitalization of C$12.91 billion, a P/E ratio of 100.56 and a beta of 1.60. The company has a current ratio of 2.16, a quick ratio of 20.86 and a debt-to-equity ratio of 21.70. The stock’s fifty day moving average price is C$11.53 and its two-hundred day moving average price is C$12.40.

Ivanhoe Mines (TSE:IVN) last announced its quarterly earnings results on Wednesday, July 29th. The company reported C$0.04 earnings per share (EPS) for the quarter. Ivanhoe Mines had a return on equity of 2.32% and a net margin of 23.46%. The company had revenue of C$216.83 million for the quarter. Equities research analysts forecast that Ivanhoe Mines Ltd. will post 1.01 EPS for the current year.

Ivanhoe Mines Company Profile

Ivanhoe Mines is a Canadian mining company focused on advancing its three principal operations in Southern Africa; the Kamoa-Kakula Copper Complex in the DRC, the ultra-high-grade Kipushi zinc-copper-germanium-silver mine, also in the DRC; and the tier-one Platreef platinum-palladium-nickel-rhodium-gold-copper mine in South Africa. Ivanhoe Mines is exploring for copper in its highly prospective, 54-100% owned exploration licences in the Western Forelands, covering an area over six times larger than the adjacent Kamoa-Kakula Copper Complex, including the high-grade discoveries in the Makoko District.