Ivanhoe Mines (TSE:IVN) Stock Gets Price Target Cut from Raymond James Financial

Key Points

• Raymond James cut Ivanhoe Mines’ price target to C$12.00 from C$15.50, maintaining a “market perform” rating; the revised target implies 42.69% upside from the reported share price.
• Analyst sentiment is mixed: the consensus rating is “Hold,” with an average target of C$13.77, based on four Buy and six Hold ratings.
• Ivanhoe shares fell C$0.47 to C$8.41 on Wednesday. The company reported quarterly EPS of C$0.06 and revenue of C$375.6 million.

Ivanhoe Mines (TSE:IVN - Get Free Report) had its price target dropped by stock analysts at Raymond James Financial from C$15.50 to C$12.00 in a research note issued to investors on Wednesday, BayStreet reports. The firm presently has a "market perform" rating on the stock. Raymond James Financial's price target indicates a potential upside of 42.69% from the stock's current price.

Several other equities analysts have also weighed in on IVN. Scotia upped their price target on 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. Morgan Stanley raised shares of Ivanhoe Mines from an "equal weight" rating to an "overweight" rating and raised their target price for the stock from C$12.00 to C$13.20 in a research note on Wednesday, July 8th. Stifel Nicolaus upped their price objective on shares of Ivanhoe Mines from C$15.00 to C$17.00 and gave the company a "buy" rating in a report on Wednesday, September 9th. Finally, Canaccord Genuity Group upped their price target on Ivanhoe Mines from C$13.00 to C$15.00 and gave the company a "buy" rating in a research note on Wednesday, September 9th. Four investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of C$13.77.

Ivanhoe Mines Stock Performance

Ivanhoe Mines stock traded down C$0.47 during trading hours on Wednesday, hitting C$8.41. 13,143,067 shares of the stock traded hands, compared to its average volume of 4,446,503. Ivanhoe Mines has a 1 year low of C$7.64 and a 1 year high of C$20.34. 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. 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 firm's 50 day moving average price is C$11.35 and its 200-day moving average price is C$12.28.

Ivanhoe Mines (TSE:IVN - Get Free Report) last issued its earnings results on Tuesday, November 3rd. The company reported C$0.06 earnings per share (EPS) for the quarter. The firm 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, equities analysts expect that Ivanhoe Mines will post 1.01 EPS for the current fiscal 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.

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