Ivanhoe Mines (TSE:IVN) Stock Bumped Down to Hold by Stifel Nicolaus

Key Points

• Stifel Nicolaus downgraded Ivanhoe Mines from Buy to Hold and cut its price target from C$17.00 to C$12.50, still implying 48.63% upside from the prior close.
• Analyst views are mixed, but the consensus rating is Hold, with four Buy and six Hold ratings and an average price target of C$13.77.
• Shares fell C$0.47 to C$8.41 on Wednesday. The company reported quarterly EPS of C$0.06 and revenue of C$375.60 million.

Ivanhoe Mines (TSE:IVN - Get Free Report) was downgraded by analysts at Stifel Nicolaus from a "buy" rating to a "hold" rating in a research note issued to investors on Wednesday, BayStreet reports. They presently have a C$12.50 price objective on the stock, down from their prior price objective of C$17.00. Stifel Nicolaus's price target would indicate a potential upside of 48.63% from the stock's previous close.

A number of other equities research analysts have also issued reports on the stock. Canaccord Genuity Group raised their price target on shares of Ivanhoe Mines from C$13.00 to C$15.00 and gave the stock a "buy" rating in a report on Wednesday, September 9th. Raymond James Financial lowered their price objective on shares of Ivanhoe Mines from C$15.50 to C$12.00 and set a "market perform" rating for the company in a research note on Wednesday. Scotia increased their target price on shares of Ivanhoe Mines from C$13.00 to C$13.50 and gave the stock a "sector perform" rating in a report on Wednesday, September 9th. Finally, Morgan Stanley upgraded shares of Ivanhoe Mines from an "equal weight" rating to an "overweight" rating and increased their target price for the stock from C$12.00 to C$13.20 in a report on Wednesday, July 8th. Four investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of C$13.77.

Ivanhoe Mines Price Performance

TSE IVN traded down C$0.47 on Wednesday, reaching C$8.41. 13,143,067 shares of the company's stock traded hands, compared to its average volume of 4,446,503. 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 current ratio of 2.16 and a quick ratio of 20.86. The stock has a 50-day simple moving average of C$11.35 and a 200 day simple moving average of C$12.28. The stock has a market cap of C$12.00 billion, a PE ratio of 93.44 and a beta of 1.60.

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

Ivanhoe Mines Company Profile

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.

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