Ivanhoe Mines (TSE:IVN) Price Target Lowered to C$16.00 at BMO Capital Markets

Ivanhoe Mines (TSE:IVN) had its price objective cut by analysts at BMO Capital Markets from C$23.00 to C$16.00 in a research note issued to investors on Wednesday,BayStreet.CA reports. BMO Capital Markets’ price objective would suggest a potential upside of 50.80% from the stock’s previous close.

IVN has been the topic of several other reports. Raymond James Financial downgraded shares of Ivanhoe Mines from an “outperform” rating to a “market perform” rating and cut their target price for the company from C$23.00 to C$17.00 in a research note on Wednesday. Jefferies Financial Group downgraded Ivanhoe Mines from a “buy” rating to a “hold” rating and dropped their target price for the company from C$18.00 to C$16.00 in a report on Monday, December 8th. Canaccord Genuity Group downgraded 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$15.00 in a research report on Friday, February 20th. Stifel Nicolaus decreased their target price on shares of Ivanhoe Mines from C$22.00 to C$15.00 in a research note on Wednesday. Finally, Scotiabank downgraded Ivanhoe Mines from an “outperform” rating to a “sector perform” rating and lowered their target price for the company from C$19.00 to C$14.50 in a research note on Wednesday. Four equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of C$15.45.

Ivanhoe Mines Price Performance

Shares of TSE IVN traded down C$1.28 during mid-day trading on Wednesday, reaching C$10.61. The company had a trading volume of 9,405,891 shares, compared to its average volume of 4,687,871. The company has a current ratio of 2.23, a quick ratio of 20.86 and a debt-to-equity ratio of 21.62. The stock has a market cap of C$15.13 billion, a PE ratio of 55.84 and a beta of 1.40. The company has a 50-day moving average price of C$14.91 and a two-hundred day moving average price of C$14.63. Ivanhoe Mines has a 1-year low of C$8.76 and a 1-year high of C$20.34.

Ivanhoe Mines (TSE:IVN) last announced its earnings results on Wednesday, February 18th. The company reported C$0.06 EPS for the quarter. Ivanhoe Mines had a return on equity of 4.76% and a net margin of 59.26%.The business had revenue of C$183.99 million during the quarter. On average, equities analysts anticipate that Ivanhoe Mines will post 1.0136483 earnings per share for the current year.

Insiders Place Their Bets

In other Ivanhoe Mines news, Director Peter Meredith sold 13,459 shares of the business’s stock in a transaction 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 completion of the transaction, the director owned 841,256 shares of the company’s stock, valued at C$13,821,836.08. The trade was a 1.57% decrease in their position. Over the last three months, insiders have sold 16,559 shares of company stock worth $272,125. 44.96% of the stock is owned by 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.