Ivanhoe Mines (TSE:IVN) Price Target Lowered to C$15.00 at Stifel Nicolaus

Key Points

• Stifel Nicolaus cut its target on Ivanhoe Mines from C$22.00 to C$15.00, a level that implies roughly a 41% upside from the current share price.
• Analyst views are mixed — Canaccord and Jefferies downgraded to Hold and trimmed targets to C$15–C$16 while Scotiabank lifted its target to C$20 with an Outperform; consensus is a "Moderate Buy" with a mean target of C$15.45.
• Shares traded down to C$10.61 on heavy volume, the company has a market cap of C$15.13B and a P/E of 55.84, and insiders have recently sold stock but still own about 44.96%.

Ivanhoe Mines (TSE:IVN - Get Free Report) had its target price dropped by Stifel Nicolaus from C$22.00 to C$15.00 in a research report issued on Wednesday,BayStreet.CA reports. Stifel Nicolaus' price objective indicates a potential upside of 41.38% from the stock's current price.

A number of other analysts have also weighed in on IVN. Canaccord Genuity Group lowered shares of Ivanhoe Mines from a "buy" rating to a "hold" rating and cut their target price for the company from C$18.00 to C$15.00 in a research report on Friday, February 20th. Jefferies Financial Group lowered Ivanhoe Mines from a "buy" rating to a "hold" rating and reduced their price objective for the stock from C$18.00 to C$16.00 in a research report on Monday, December 8th. Finally, Scotiabank upped their target price on Ivanhoe Mines from C$18.50 to C$20.00 and gave the stock an "outperform" rating in a report on Thursday, January 8th. Four analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of C$15.45.

Ivanhoe Mines Price Performance

Shares of IVN stock traded down C$1.28 during trading hours on Wednesday, reaching C$10.61. The company's stock had a trading volume of 9,405,891 shares, compared to its average volume of 4,687,871. 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 fifty-two week low of C$8.76 and a fifty-two week high of C$20.34. The company has a market capitalization of C$15.13 billion, a price-to-earnings ratio of 55.84 and a beta of 1.40. The firm's 50 day simple moving average is C$14.91 and its 200-day simple moving average is C$14.63.

Ivanhoe Mines (TSE:IVN - Get Free Report) last released its quarterly earnings data on Wednesday, February 18th. The company reported C$0.06 earnings per share for the quarter. The business had revenue of C$183.99 million for the quarter. Ivanhoe Mines had a return on equity of 4.76% and a net margin of 59.26%. Sell-side analysts forecast that Ivanhoe Mines will post 1.0136483 earnings per share for the current year.

Insider Transactions at Ivanhoe Mines

In other Ivanhoe Mines news, Director Peter Meredith sold 13,459 shares of Ivanhoe Mines stock in a transaction dated Tuesday, January 13th. The stock was sold at an average price of C$16.43, for a total transaction of C$221,131.37. Following the transaction, the director directly owned 841,256 shares of the company's stock, valued at approximately C$13,821,836.08. The trade was a 1.57% decrease in their position. Over the last three months, insiders sold 16,559 shares of company stock worth $272,125. 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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