Ivanhoe Mines (TSE:IVN) Releases Quarterly Earnings Results

Ivanhoe Mines (TSE:IVN) released its quarterly earnings results on Wednesday. The company reported C$0.06 EPS for the quarter, FiscalAI reports. The business had revenue of C$183.99 million during the quarter.

Ivanhoe Mines Price Performance

IVN opened at C$16.20 on Thursday. Ivanhoe Mines has a 1 year low of C$8.76 and a 1 year high of C$20.34. The company’s 50 day simple moving average is C$16.26 and its 200 day simple moving average is C$14.32. The stock has a market capitalization of C$23.00 billion, a PE ratio of 73.64 and a beta of 1.91. The company has a debt-to-equity ratio of 2.48, a quick ratio of 20.86 and a current ratio of 1.36.

Analyst Upgrades and Downgrades

IVN has been the subject of a number of recent research reports. Stifel Nicolaus dropped their price objective on Ivanhoe Mines from C$28.00 to C$22.00 and set a “buy” rating for the company in a research report on Wednesday, February 11th. Scotiabank lifted their price target on shares of Ivanhoe Mines from C$18.50 to C$20.00 and gave the stock an “outperform” rating in a report on Thursday, January 8th. Finally, Jefferies Financial Group downgraded shares of Ivanhoe Mines from a “buy” rating to a “hold” rating and reduced their price objective for the company from C$18.00 to C$16.00 in a research note on Monday, December 8th. Six research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, Ivanhoe Mines has a consensus rating of “Moderate Buy” and a consensus price target of C$17.95.

Insiders Place Their Bets

In other news, insider Citic Metal Africa Investments Limited sold 350,000 shares of the company’s stock in a transaction on Tuesday, December 30th. The stock was sold at an average price of C$15.71, for a total transaction of C$5,498,500.00. Also, insider Mark Sean Farren sold 60,000 shares of Ivanhoe Mines stock in a transaction on Tuesday, December 16th. The shares were sold at an average price of C$13.40, for a total value of C$804,000.00. Following the completion of the transaction, the insider owned 174,923 shares in the company, valued at C$2,343,968.20. The trade was a 25.54% decrease in their position. Insiders have sold a total of 566,849 shares of company stock valued at $8,458,448 over the last quarter. Company 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.