Ivanhoe Mines (TSE:IVN) Issues Quarterly Earnings Results

Ivanhoe Mines (TSE:IVN) posted its earnings results on Wednesday. The company reported C$0.04 earnings per share (EPS) for the quarter, FiscalAI reports. Ivanhoe Mines had a net margin of 24.92% and a return on equity of 2.32%. The firm had revenue of C$216.83 million during the quarter.

Ivanhoe Mines Stock Down 0.8%

Shares of TSE IVN traded down C$0.09 during midday trading on Wednesday, reaching C$10.59. 4,666,315 shares of the company’s stock were exchanged, compared to its average volume of 4,549,732. Ivanhoe Mines has a 52-week low of C$9.45 and a 52-week high of C$20.34. The stock has a market capitalization of C$15.10 billion, a PE ratio of 117.67 and a beta of 1.58. The company has a debt-to-equity ratio of 21.02, a quick ratio of 20.86 and a current ratio of 2.33. The business’s fifty day moving average price is C$11.19 and its two-hundred day moving average price is C$12.92.

Insider Activity at Ivanhoe Mines

In related news, Director Setha Patricia Makhesha sold 5,200 shares of the stock in a transaction dated Thursday, May 21st. The stock was sold at an average price of C$11.45, for a total value of C$59,540.00. Following the completion of the transaction, the director owned 77,922 shares of the company’s stock, valued at approximately C$892,206.90. This represents a 6.26% decrease in their ownership of the stock. Insiders sold a total of 10,000 shares of company stock valued at $114,554 in the last 90 days. Insiders own 44.96% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on IVN. TD Securities lowered their target price on Ivanhoe Mines from C$19.00 to C$13.00 and set a “buy” rating for the company in a research note on Wednesday, April 1st. Canaccord Genuity Group raised shares of Ivanhoe Mines from a “hold” rating to a “buy” rating and increased their price objective for the company from C$12.00 to C$13.00 in a research report on Tuesday, July 21st. Stifel Nicolaus dropped their price objective on shares of Ivanhoe Mines from C$22.00 to C$15.00 in a research note on Wednesday, April 1st. Raymond James Financial cut shares of Ivanhoe Mines from a “moderate buy” rating to a “hold” rating and reduced their target price for the stock from C$23.00 to C$17.00 in a research report on Wednesday, April 1st. Finally, BMO Capital Markets decreased their target price on shares of Ivanhoe Mines from C$23.00 to C$16.00 in a research note on Wednesday, April 1st. Five investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, Ivanhoe Mines has a consensus rating of “Moderate Buy” and a consensus target price of C$14.41.

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.