Ivanhoe Mines Ltd. (TSE:IVN) Given Consensus Recommendation of "Moderate Buy" by Brokerages

Key Points

• Ivanhoe Mines has a “Moderate Buy” consensus from nine analysts, with five buy ratings and four holds. The average 12-month price target is C$14.41.
• Recent analyst actions have been broadly positive: Canaccord Genuity and Morgan Stanley upgraded the stock, while Scotiabank raised its target to C$13.50 but maintained a sector-perform rating.
• Ivanhoe Mines reported quarterly revenue of C$216.83 million and earnings of C$0.04 per share. Shares opened at C$11.57, below the consensus target, while insiders have sold 10,000 shares over the past 90 days.

Shares of Ivanhoe Mines Ltd. (TSE:IVN - Get Free Report) have been given a consensus recommendation of "Moderate Buy" by the nine ratings firms that are presently covering the firm, Marketbeat reports. Four analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 12 month target price among brokers that have covered the stock in the last year is C$14.41.

Several equities research analysts have recently weighed in on the company. Canaccord Genuity Group upgraded Ivanhoe Mines from a "hold" rating to a "buy" rating and upped their price target for the company from C$12.00 to C$13.00 in a research report on Tuesday, July 21st. Morgan Stanley upgraded shares of Ivanhoe Mines from an "equal weight" rating to an "overweight" rating and raised their price objective for the company from C$12.00 to C$13.20 in a research report on Wednesday, July 8th. Finally, Scotiabank boosted 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 Monday, June 15th.

Insider Buying and Selling

In other Ivanhoe Mines news, Director Setha Patricia Makhesha sold 5,200 shares of the firm's stock in a transaction on Thursday, May 21st. The shares were sold at an average price of C$11.45, for a total value of C$59,540.00. Following the completion of the transaction, the director directly owned 77,922 shares of the company's stock, valued at C$892,206.90. This trade represents a 6.26% decrease in their position. Over the last ninety days, insiders have sold 10,000 shares of company stock valued at $114,554. 44.96% of the stock is owned by company insiders.

Ivanhoe Mines Price Performance

Shares of TSE IVN opened at C$11.57 on Friday. 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 has a fifty-two week low of C$9.45 and a fifty-two week high of C$20.34. The stock has a market cap of C$16.50 billion, a PE ratio of 128.56 and a beta of 1.54. The stock has a fifty day moving average of C$10.96 and a 200-day moving average of C$12.48.

Ivanhoe Mines (TSE:IVN - Get Free Report) last issued its quarterly earnings data on Wednesday, July 29th. The company reported C$0.04 earnings per share (EPS) for the quarter. Ivanhoe Mines had a return on equity of 2.32% and a net margin of 23.46%.The business had revenue of C$216.83 million for the quarter. Equities research analysts anticipate that Ivanhoe Mines will post 1.0136483 earnings per share 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.

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