Ivanhoe Mines (TSE:IVN) Cut to Hold at Scotiabank

Scotiabank downgraded shares of Ivanhoe Mines (TSE:IVN) from an outperform rating to a hold rating in a research report sent to investors on Wednesday, MarketBeat Ratings reports. Scotiabank currently has C$14.50 price target on the stock, down from their prior price target of C$19.00.

IVN has been the topic of several other reports. Canaccord Genuity Group lowered Ivanhoe Mines from a “buy” rating to a “hold” rating and reduced their target price for the company from C$18.00 to C$15.00 in a research report on Friday, February 20th. Stifel Nicolaus dropped their price target on Ivanhoe Mines from C$22.00 to C$15.00 in a research note on Wednesday. Finally, Jefferies Financial Group downgraded shares of Ivanhoe Mines from a “buy” rating to a “hold” rating and cut their price objective for the company from C$18.00 to C$16.00 in a report on Monday, December 8th. Four investment 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 currently has a consensus rating of “Moderate Buy” and a consensus target price of C$15.45.

Ivanhoe Mines Price Performance

TSE IVN opened at C$10.44 on Wednesday. The firm’s fifty day simple moving average is C$14.55 and its two-hundred day simple moving average is C$14.56. The firm has a market capitalization of C$14.89 billion, a P/E ratio of 54.95 and a beta of 1.40. The company has a current ratio of 2.23, a quick ratio of 20.86 and a debt-to-equity ratio of 21.62. Ivanhoe Mines has a 12-month low of C$8.76 and a 12-month high of C$20.34.

Ivanhoe Mines (TSE:IVN) last issued its quarterly earnings data on Wednesday, February 18th. The company reported C$0.06 EPS for the quarter. The firm had revenue of C$183.99 million during the quarter. Ivanhoe Mines had a return on equity of 4.76% and a net margin of 59.26%. Analysts forecast that Ivanhoe Mines will post 1.0136483 EPS for the current fiscal year.

Insider Buying and Selling at Ivanhoe Mines

In related news, Director Peter Meredith sold 13,459 shares of the company’s stock in a transaction 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 transaction, the director directly owned 841,256 shares of the company’s stock, valued at C$13,821,836.08. This represents a 1.57% decrease in their position. Insiders have sold 16,559 shares of company stock worth $272,125 over the last 90 days. 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.