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

Ivanhoe Mines (TSE:IVN) had its target price lowered by equities researchers at Stifel Nicolaus from C$22.00 to C$15.00 in a report issued on Wednesday,BayStreet.CA reports. Stifel Nicolaus’ price objective would suggest a potential upside of 41.38% from the company’s current price.

Several other equities research analysts have also recently weighed in on IVN. Scotiabank increased their target price on Ivanhoe Mines from C$18.50 to C$20.00 and gave the company an “outperform” rating in a report on Thursday, January 8th. 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 report on Monday, December 8th. Finally, Canaccord Genuity Group cut shares of Ivanhoe Mines from a “buy” rating to a “hold” rating and dropped their target price for the stock from C$18.00 to C$15.00 in a research report on Friday, February 20th. Four equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of C$15.45.

Ivanhoe Mines Stock Performance

IVN stock traded down C$1.28 during midday trading on Wednesday, reaching C$10.61. 9,405,891 shares of the company’s stock traded hands, compared to its average volume of 4,687,871. The company has a 50-day moving average price of C$14.91 and a two-hundred day moving average price of C$14.63. The company has a debt-to-equity ratio of 21.62, a quick ratio of 20.86 and a current ratio of 2.23. The firm has a market capitalization of C$15.13 billion, a PE ratio of 55.84 and a beta of 1.40. Ivanhoe Mines has a 52 week low of C$8.76 and a 52 week high of C$20.34.

Ivanhoe Mines (TSE:IVN) last announced its quarterly earnings results on Wednesday, February 18th. The company reported C$0.06 EPS for the quarter. The firm had revenue of C$183.99 million during the quarter. Ivanhoe Mines had a net margin of 59.26% and a return on equity of 4.76%. As a group, equities analysts anticipate that Ivanhoe Mines will post 1.0136483 EPS for the current year.

Insider Buying and Selling

In related news, Director Peter Meredith sold 13,459 shares of the business’s stock in a transaction dated Tuesday, January 13th. The shares were sold at an average price of C$16.43, for a total transaction of C$221,131.37. Following the sale, the director owned 841,256 shares of the company’s stock, valued at 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 worth $272,125 over the last 90 days. 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.