Ivanhoe Mines Ltd. (TSE:IVN) Receives Average Rating of “Moderate Buy” from Brokerages

Ivanhoe Mines Ltd. (TSE:IVN) has earned an average rating of “Moderate Buy” from the seven ratings firms that are covering the stock, MarketBeat Ratings reports. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is C$17.80.

Several brokerages have commented on IVN. Scotiabank upped their price target on Ivanhoe Mines from C$18.50 to C$20.00 and gave the stock an “outperform” rating in a research note on Thursday, January 8th. Canaccord Genuity Group lowered Ivanhoe Mines from a “buy” rating to a “hold” rating and reduced their price objective for the company from C$18.00 to C$15.00 in a research note on Friday, February 20th. Jefferies Financial Group cut Ivanhoe Mines from a “buy” rating to a “hold” rating and decreased their target price for the stock from C$18.00 to C$16.00 in a report on Monday, December 8th. Finally, Stifel Nicolaus dropped their target price on shares of Ivanhoe Mines from C$28.00 to C$22.00 and set a “buy” rating for the company in a research report on Wednesday, February 11th.

Ivanhoe Mines Stock Up 4.8%

Shares of IVN opened at C$11.42 on Tuesday. Ivanhoe Mines has a fifty-two week low of C$8.76 and a fifty-two week high of C$20.34. The company’s fifty day moving average is C$15.50 and its two-hundred day moving average is C$14.68. The firm has a market cap of C$16.28 billion, a PE ratio of 60.11 and a beta of 1.40. The company has a quick ratio of 20.86, a current ratio of 2.23 and a debt-to-equity ratio of 21.62.

Ivanhoe Mines (TSE:IVN) last released its quarterly earnings data 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. Analysts forecast that Ivanhoe Mines will post 1.0136483 earnings per share for the current year.

Insider Activity at Ivanhoe Mines

In other news, Director Peter Meredith sold 13,459 shares of the firm’s stock in a transaction on Tuesday, January 13th. The shares were sold at an average price of C$16.43, for a total value of C$221,131.37. Following the transaction, the director owned 841,256 shares of the company’s stock, valued at approximately C$13,821,836.08. This trade represents a 1.57% decrease in their position. Also, insider Citic Metal Africa Investments Limited sold 350,000 shares of Ivanhoe Mines stock in a transaction on Tuesday, December 30th. The shares were sold at an average price of C$15.71, for a total transaction of C$5,498,500.00. Over the last quarter, insiders have sold 366,559 shares of company stock valued at $5,770,625. 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.