Ivanhoe Mines (TSE:IVN) Price Target Cut to C$12.00 by Analysts at Raymond James Financial

Ivanhoe Mines (TSE:IVN) had its price target dropped by research analysts at Raymond James Financial from C$15.50 to C$12.00 in a research report issued to clients and investors on Wednesday, BayStreet reports. The brokerage currently has a “market perform” rating on the stock. Raymond James Financial‘s price target would indicate a potential upside of 42.69% from the company’s previous close.

A number of other analysts have also recently weighed in on IVN. Morgan Stanley upgraded shares of Ivanhoe Mines from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from C$12.00 to C$13.20 in a research note on Wednesday, July 8th. Scotia lifted their price objective on shares of Ivanhoe Mines from C$13.00 to C$13.50 and gave the company a “sector perform” rating in a research note on Wednesday, September 9th. Canaccord Genuity Group upped their target price on shares of Ivanhoe Mines from C$13.00 to C$15.00 and gave the company a “buy” rating in a report on Wednesday, September 9th. Finally, Stifel Nicolaus increased their target price on shares of 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. Four equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. Based on data from MarketBeat, Ivanhoe Mines presently has an average rating of “Hold” and a consensus price target of C$13.77.

Ivanhoe Mines Stock Performance

Shares of IVN stock traded down C$0.47 during mid-day trading on Wednesday, hitting C$8.41. 13,143,067 shares of the stock were exchanged, compared to its average volume of 4,446,503. The stock’s fifty day simple moving average is C$11.35 and its two-hundred day simple moving average is C$12.28. The stock has a market capitalization of C$12.00 billion, a price-to-earnings ratio of 93.44 and a beta of 1.60. Ivanhoe Mines has a 12-month low of C$7.64 and a 12-month high of C$20.34. The company has a debt-to-equity ratio of 21.70, a quick ratio of 20.86 and a current ratio of 2.16.

Ivanhoe Mines (TSE:IVN) last posted its quarterly earnings data on Tuesday, November 3rd. The company reported C$0.06 earnings per share for the quarter. The business had revenue of C$375.60 million during the quarter. Ivanhoe Mines had a return on equity of 2.32% and a net margin of 23.46%. On average, analysts forecast that Ivanhoe Mines will post 1.01 EPS for the current year.

About Ivanhoe Mines

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.