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

Ivanhoe Mines Ltd. (TSE:IVN)’s share price reached a new 52-week low on Friday. The company traded as low as C$8.88 and last traded at C$8.95, with a volume of 1,468,058 shares. The stock had previously closed at C$9.41.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. Canaccord Genuity Group upped 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 report on Wednesday, September 9th. Morgan Stanley upgraded Ivanhoe Mines from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from C$12.00 to C$13.20 in a report on Wednesday, July 8th. Stifel Nicolaus lifted their target price on Ivanhoe Mines from C$15.00 to C$17.00 and gave the stock a “buy” rating in a research report on Wednesday, September 9th. Finally, Scotia increased their price target 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. Five equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of C$14.72.

Ivanhoe Mines Stock Down 3.8%

The stock’s 50 day simple moving average is C$11.53 and its 200 day simple moving average is C$12.40. The company has a current ratio of 2.16, a quick ratio of 20.86 and a debt-to-equity ratio of 21.70. The stock has a market capitalization of C$12.91 billion, a P/E ratio of 100.56 and a beta of 1.60.

Ivanhoe Mines (TSE:IVN) last issued its quarterly earnings data on Wednesday, July 29th. The company reported C$0.04 earnings per share (EPS) for the quarter. Ivanhoe Mines had a return on equity of 2.32% and a net margin of 23.46%. The business had revenue of C$216.83 million during the quarter. As a group, research analysts predict that Ivanhoe Mines Ltd. will post 1.01 EPS for the current fiscal year.

About Ivanhoe Mines

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.