Jefferies Financial Group Downgrades Ivanhoe Mines (TSE:IVN) to Hold

Ivanhoe Mines (TSE:IVN) was downgraded by stock analysts at Jefferies Financial Group from a “buy” rating to a “hold” rating in a report released on Monday,BayStreet.CA reports. They presently have a C$16.00 price target on the stock, down from their previous price target of C$18.00. Jefferies Financial Group’s target price points to a potential upside of 13.15% from the stock’s previous close.

Several other brokerages have also recently issued reports on IVN. Canaccord Genuity Group boosted their price target on Ivanhoe Mines from C$14.00 to C$16.50 and gave the company a “buy” rating in a research note on Wednesday, October 1st. Scotiabank raised Ivanhoe Mines from a “hold” rating to an “outperform” rating and lifted their price objective for the company from C$12.50 to C$17.00 in a report on Monday, September 29th. Citigroup increased their target price on Ivanhoe Mines from C$14.00 to C$18.00 and gave the stock a “buy” rating in a report on Wednesday, October 8th. Stifel Nicolaus boosted their price target on Ivanhoe Mines from C$16.00 to C$18.00 in a research note on Tuesday, October 21st. Finally, TD Securities upped their price objective on shares of Ivanhoe Mines from C$13.00 to C$16.00 and gave the stock a “buy” rating in a research report on Monday, September 29th. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, Ivanhoe Mines has a consensus rating of “Buy” and a consensus target price of C$17.25.

Ivanhoe Mines Stock Performance

Shares of IVN stock traded down C$0.58 on Monday, hitting C$14.14. The company’s stock had a trading volume of 2,343,988 shares, compared to its average volume of 3,412,870. Ivanhoe Mines has a fifty-two week low of C$8.76 and a fifty-two week high of C$20.77. The company has a market capitalization of C$20.07 billion, a PE ratio of 64.27 and a beta of 1.96. The stock’s 50 day moving average is C$14.15 and its 200-day moving average is C$12.39. The company has a debt-to-equity ratio of 2.48, a quick ratio of 20.86 and a current ratio of 1.36.

Ivanhoe Mines (TSE:IVN) last posted its quarterly earnings data on Wednesday, October 29th. The company reported C$0.02 earnings per share (EPS) for the quarter. The business had revenue of C$180.18 million during the quarter. Equities research analysts expect that Ivanhoe Mines will post 1.0136483 earnings per share for the current fiscal year.

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.