Royal Bank Of Canada Downgrades Ivanhoe Mines (TSE:IVN) to Sector Perform

Key Points

• Royal Bank of Canada downgraded Ivanhoe Mines from "outperform" to "sector perform" and several other analysts have cut ratings or price targets, leaving a MarketBeat consensus of "Hold" with an average target of C$15.10.
• Shares traded at C$10.54, well below the 50- and 200-day moving averages (~C$14.55) and the consensus target, with a 1-year range of C$8.76–C$20.34.
• Insiders have sold stock recently (including a director sale on Jan. 13) but still own a substantial stake—about 44.96% of the company.

Ivanhoe Mines (TSE:IVN - Get Free Report) was downgraded by Royal Bank Of Canada from an "outperform" rating to a "sector perform" rating in a report released on Monday,BayStreet.CA reports.

IVN has been the topic of several other reports. Jefferies Financial Group downgraded Ivanhoe Mines from a "buy" rating to a "hold" rating and cut their price target for the stock from C$18.00 to C$16.00 in a research report on Monday, December 8th. Stifel Nicolaus lowered their target price on Ivanhoe Mines from C$22.00 to C$15.00 in a research note on Wednesday, April 1st. Scotiabank lowered Ivanhoe Mines from an "outperform" rating to a "hold" rating and dropped their target price for the stock from C$19.00 to C$14.50 in a report on Wednesday, April 1st. Canaccord Genuity Group reduced their price target on Ivanhoe Mines from C$15.00 to C$11.50 and set a "hold" rating for the company in a research report on Monday. Finally, Raymond James Financial downgraded Ivanhoe Mines from a "moderate buy" rating to a "hold" rating and decreased their price target for the company from C$23.00 to C$17.00 in a report on Wednesday, April 1st. Three analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of C$15.10.

Ivanhoe Mines Stock Performance

TSE IVN traded up C$0.10 on Monday, hitting C$10.54. 2,386,224 shares of the company's stock traded hands, compared to its average volume of 4,803,974. The firm's 50-day moving average price is C$14.55 and its two-hundred day moving average price is C$14.57. The firm has a market capitalization of C$15.03 billion, a PE ratio of 55.47 and a beta of 1.74. The company has a current ratio of 2.23, a quick ratio of 20.86 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.

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 firm had revenue of C$183.99 million for the quarter. Ivanhoe Mines had a net margin of 59.26% and a return on equity of 4.76%. As a group, analysts expect that Ivanhoe Mines will post 1.0136483 EPS for the current year.

Insiders Place Their Bets

In other Ivanhoe Mines news, Director Peter Meredith sold 13,459 shares of Ivanhoe Mines stock in a transaction on Tuesday, January 13th. The shares were 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 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 ownership of the stock. Insiders have sold a total of 16,559 shares of company stock valued at $272,125 over the last three months. 44.96% of the stock is currently owned by insiders.

Ivanhoe Mines Company Profile

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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