Canaccord Genuity Group Has Lowered Expectations for Ivanhoe Mines (TSE:IVN) Stock Price

Key Points

• Canaccord Genuity cut its price target on Ivanhoe Mines to C$11.50 (from C$15.00) and maintained a "hold" rating, with that target implying roughly a 9.1% upside from the prior close.
• Several other brokers (Scotiabank, BMO, TD, Stifel, Jefferies) also trimmed targets or downgraded the stock, leaving an average analyst rating of "Hold" and an average price target of C$15.10.
• The stock traded at C$10.54, below most targets, with a market cap of C$15.03B and a high P/E of 55.47; insiders own 44.96% of shares and recently sold some stock (including a director sale of 13,459 shares).

Ivanhoe Mines (TSE:IVN - Get Free Report) had its price objective decreased by Canaccord Genuity Group from C$15.00 to C$11.50 in a note issued to investors on Monday,BayStreet.CA reports. The brokerage presently has a "hold" rating on the stock. Canaccord Genuity Group's price target would suggest a potential upside of 9.11% from the company's previous close.

Other equities analysts have also issued reports about the company. Scotiabank lowered Ivanhoe Mines from an "outperform" rating to a "hold" rating and reduced their price objective for the company from C$19.00 to C$14.50 in a report on Wednesday, April 1st. BMO Capital Markets dropped their price target on Ivanhoe Mines from C$23.00 to C$16.00 in a research report on Wednesday, April 1st. TD Securities cut their price target on Ivanhoe Mines from C$19.00 to C$13.00 and set a "buy" rating for the company in a research note on Wednesday, April 1st. Stifel Nicolaus decreased their price objective on Ivanhoe Mines from C$22.00 to C$15.00 in a report on Wednesday, April 1st. Finally, Jefferies Financial Group cut Ivanhoe Mines from a "buy" rating to a "hold" rating and lowered their price objective for the company from C$18.00 to C$16.00 in a research note on Monday, December 8th. Three investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to MarketBeat.com, the company has an average rating of "Hold" and an average price target of C$15.10.

Ivanhoe Mines Stock Performance

TSE IVN traded up C$0.10 during trading hours on Monday, reaching C$10.54. 2,386,224 shares of the company were exchanged, compared to its average volume of 4,803,974. The stock has a market capitalization of C$15.03 billion, a P/E ratio of 55.47 and a beta of 1.74. 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 has a 1 year low of C$8.76 and a 1 year high of C$20.34. The business's 50 day simple moving average is C$14.55 and its 200-day simple moving average is C$14.57.

Ivanhoe Mines (TSE:IVN - Get Free Report) last released its earnings results on Wednesday, February 18th. The company reported C$0.06 earnings per share for the quarter. Ivanhoe Mines had a net margin of 59.26% and a return on equity of 4.76%. The firm had revenue of C$183.99 million during the quarter. On average, equities research analysts expect 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 Ivanhoe Mines 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 completion of the transaction, the director directly owned 841,256 shares in the company, valued at approximately C$13,821,836.08. The trade was a 1.57% decrease in their ownership of the stock. Insiders sold 16,559 shares of company stock valued at $272,125 over the last three months. 44.96% of the stock is owned by company 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.

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