TD Securities Issues Pessimistic Forecast for Ivanhoe Mines (TSE:IVN) Stock Price

Ivanhoe Mines (TSE:IVN) had its price target dropped by equities research analysts at TD Securities from C$19.00 to C$13.00 in a research report issued on Wednesday,BayStreet.CA reports. The firm currently has a “buy” rating on the stock. TD Securities’ price target points to a potential upside of 22.53% from the company’s previous close.

IVN has been the subject of a number of other reports. Jefferies Financial Group cut shares of Ivanhoe Mines from a “buy” rating to a “hold” rating and lowered their price target for the company from C$18.00 to C$16.00 in a research report on Monday, December 8th. Stifel Nicolaus cut their price target on Ivanhoe Mines from C$22.00 to C$15.00 in a research note on Wednesday. Canaccord Genuity Group downgraded Ivanhoe Mines from a “buy” rating to a “hold” rating and reduced their price target for the company from C$18.00 to C$15.00 in a report on Friday, February 20th. Raymond James Financial lowered Ivanhoe Mines from an “outperform” rating to a “market perform” rating and lowered their price target for the stock from C$23.00 to C$17.00 in a research report on Wednesday. Finally, Scotiabank downgraded shares of Ivanhoe Mines from an “outperform” rating to a “sector perform” rating and cut their price objective for the company from C$19.00 to C$14.50 in a research report on Wednesday. Four investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of C$15.45.

Ivanhoe Mines Stock Down 10.8%

Shares of TSE:IVN traded down C$1.28 during trading on Wednesday, hitting C$10.61. The stock had a trading volume of 9,405,891 shares, compared to its average volume of 4,687,871. The company has a market capitalization of C$15.13 billion, a PE ratio of 55.84 and a beta of 1.40. The company has a quick ratio of 20.86, a current ratio of 2.23 and a debt-to-equity ratio of 21.62. The firm’s fifty day moving average is C$14.91 and its 200 day moving average is C$14.63. Ivanhoe Mines has a 12 month low of C$8.76 and a 12 month high of C$20.34.

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

Insider Activity

In related news, Director Peter Meredith sold 13,459 shares of Ivanhoe Mines stock in a transaction on Tuesday, January 13th. The stock was sold at an average price of C$16.43, for a total value of C$221,131.37. Following the completion of 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. In the last quarter, insiders sold 16,559 shares of company stock valued at $272,125. Company insiders own 44.96% of the company’s stock.

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.