Ivanhoe Mines (TSE:IVN) Sets New 1-Year Low - Here's Why

Key Points

• Ivanhoe Mines shares hit a new 52-week low, falling to C$8.92 and last trading at C$9.04, down from the previous close of C$9.53.
• Analysts remain broadly positive despite the decline: the stock has a “Moderate Buy” consensus rating, with five Buy and five Hold ratings and an average price target of C$14.72.
• The company reported quarterly EPS of C$0.04 on C$216.83 million in revenue, while its mining portfolio includes major copper, zinc and platinum-group-metal projects in the Democratic Republic of the Congo and South Africa.

Ivanhoe Mines Ltd. (TSE:IVN - Get Free Report)'s stock price reached a new 52-week low on Thursday. The stock traded as low as C$8.92 and last traded at C$9.04, with a volume of 978,116 shares changing hands. The stock had previously closed at C$9.53.

Analyst Ratings Changes

A number of brokerages recently weighed in on IVN. Scotia boosted their target price on shares of 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. Stifel Nicolaus increased their price target on shares of Ivanhoe Mines from C$15.00 to C$17.00 and gave the company a "buy" rating in a research note on Wednesday, September 9th. Canaccord Genuity Group increased their price target on shares of 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. Finally, Morgan Stanley raised shares of Ivanhoe Mines from an "equal weight" rating to an "overweight" rating and lifted their price objective for the company from C$12.00 to C$13.20 in a research report on Wednesday, July 8th. Five investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of C$14.72.

Ivanhoe Mines Price Performance

The company has a quick ratio of 20.86, a current ratio of 2.16 and a debt-to-equity ratio of 21.70. The firm has a market cap of C$13.07 billion, a P/E ratio of 101.78 and a beta of 1.60. The business has a fifty day moving average of C$11.78 and a 200 day moving average of C$11.50.

Ivanhoe Mines (TSE:IVN - Get Free Report) last announced its quarterly earnings results on Wednesday, July 29th. The company reported C$0.04 earnings per share for the quarter. The firm had revenue of C$216.83 million for the quarter. Ivanhoe Mines had a return on equity of 2.32% and a net margin of 23.46%. On average, sell-side analysts anticipate that Ivanhoe Mines Ltd. will post 1.01 earnings per share for the current year.

Ivanhoe Mines Company Profile

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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