Ivanhoe Mines Ltd. (TSE:IVN) Receives Consensus Recommendation of "Hold" from Brokerages

Key Points

• Ivanhoe Mines has a consensus analyst rating of "Hold" from nine brokerages, with five hold ratings and four buy ratings. The average 1-year price target is C$14.24.
• Several firms adjusted their views recently, including Raymond James cutting its rating to hold and lowering its target to C$17.00, while Morgan Stanley upgraded the stock to overweight with a C$13.20 target.
• The stock last traded at C$9.81, near its 52-week low of C$9.45 and well below its 52-week high of C$20.34. Ivanhoe also reported insider selling, including a director who sold 5,200 shares in May.

Ivanhoe Mines Ltd. (TSE:IVN - Get Free Report) has been assigned an average rating of "Hold" from the nine research firms that are presently covering the firm, Marketbeat Ratings reports. Five equities research analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is C$14.24.

Several research firms have weighed in on IVN. Raymond James Financial cut Ivanhoe Mines from a "moderate buy" rating to a "hold" rating and lowered their target price for the company from C$23.00 to C$17.00 in a research note on Wednesday, April 1st. Scotiabank upped 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. TD Securities cut their target price on shares of Ivanhoe Mines from C$19.00 to C$13.00 and set a "buy" rating for the company in a research report on Wednesday, April 1st. Morgan Stanley raised shares of Ivanhoe Mines from an "equal weight" rating to an "overweight" rating and lifted their target price for the company from C$12.00 to C$13.20 in a research note on Wednesday, July 8th. Finally, BMO Capital Markets dropped their price target on shares of Ivanhoe Mines from C$23.00 to C$16.00 in a research note on Wednesday, April 1st.

Ivanhoe Mines Stock Performance

Shares of Ivanhoe Mines stock opened at C$9.81 on Monday. Ivanhoe Mines has a 12 month low of C$9.45 and a 12 month high of C$20.34. The company has a quick ratio of 20.86, a current ratio of 2.33 and a debt-to-equity ratio of 21.02. The stock has a market cap of C$13.99 billion, a PE ratio of 109.00 and a beta of 1.58. The business has a fifty day simple moving average of C$11.41 and a 200-day simple moving average of C$13.19.

Insiders Place Their Bets

In other news, Director Setha Patricia Makhesha sold 5,200 shares of the firm's stock in a transaction dated Thursday, May 21st. The stock was sold at an average price of C$11.45, for a total transaction of C$59,540.00. Following the completion of the sale, 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 quarter, insiders sold 10,000 shares of company stock valued at $114,554. Corporate insiders own 44.96% of the company's stock.

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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