Ivanhoe Mines (TSE:IVN) Cut to Hold at Raymond James Financial

Raymond James Financial cut shares of Ivanhoe Mines (TSE:IVN) from a moderate buy rating to a hold rating in a research report report published on Wednesday morning, Marketbeat.com reports. They currently have C$17.00 price objective on the stock, down from their previous price objective of C$23.00.

IVN has been the subject of a number of other research reports. Canaccord Genuity Group cut Ivanhoe Mines from a “buy” rating to a “hold” rating and reduced their target price for the company from C$18.00 to C$15.00 in a report on Friday, February 20th. Stifel Nicolaus lowered their price target on Ivanhoe Mines from C$22.00 to C$15.00 in a research note on Wednesday. Jefferies Financial Group cut Ivanhoe Mines from a “buy” rating to a “hold” rating and dropped their price target for the stock from C$18.00 to C$16.00 in a research report on Monday, December 8th. Finally, Scotiabank downgraded Ivanhoe Mines from an “outperform” rating to a “hold” rating and reduced their price objective for the company from C$19.00 to C$14.50 in a research note on Wednesday. Four analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of C$15.45.

Ivanhoe Mines Price Performance

IVN opened at C$10.44 on Wednesday. Ivanhoe Mines has a twelve month low of C$8.76 and a twelve month high of C$20.34. 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 company has a 50-day moving average price of C$14.55 and a 200 day moving average price of C$14.56. The company has a market cap of C$14.89 billion, a PE ratio of 54.95 and a beta of 1.40.

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. Ivanhoe Mines had a net margin of 59.26% and a return on equity of 4.76%. The firm had revenue of C$183.99 million for the quarter. Sell-side analysts expect that Ivanhoe Mines will post 1.0136483 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Ivanhoe Mines news, Director Peter Meredith sold 13,459 shares of the stock in a transaction dated 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 sale, the director owned 841,256 shares in the company, valued at approximately C$13,821,836.08. This represents a 1.57% decrease in their position. In the last three months, insiders have sold 16,559 shares of company stock valued at $272,125. 44.96% of the stock is currently owned by corporate insiders.

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.