Stifel Nicolaus Cuts Ivanhoe Mines (TSE:IVN) Price Target to C$22.00

Ivanhoe Mines (TSE:IVN) had its target price decreased by Stifel Nicolaus from C$28.00 to C$22.00 in a research note published on Wednesday morning,BayStreet.CA reports. Stifel Nicolaus currently has a buy rating on the stock.

A number of other analysts have also recently weighed in on the company. Jefferies Financial Group cut Ivanhoe Mines from a “buy” rating to a “hold” rating and reduced their price target for the stock from C$18.00 to C$16.00 in a research report on Monday, December 8th. Scotiabank increased their price objective 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. Six equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of C$17.95.

Ivanhoe Mines Stock Performance

IVN stock opened at C$17.07 on Wednesday. The firm has a 50 day moving average of C$16.10 and a two-hundred day moving average of C$14.18. Ivanhoe Mines has a 12 month low of C$8.76 and a 12 month high of C$20.34. The company has a market capitalization of C$24.23 billion, a price-to-earnings ratio of 77.59 and a beta of 1.91. The company has a quick ratio of 20.86, a current ratio of 1.36 and a debt-to-equity ratio of 2.48.

Ivanhoe Mines (TSE:IVN) last released its quarterly earnings results on Wednesday, October 29th. The company reported C$0.02 earnings per share for the quarter. The business had revenue of C$180.18 million for the quarter. As a group, equities analysts anticipate that Ivanhoe Mines will post 1.0136483 EPS for the current fiscal year.

Insider Activity at Ivanhoe Mines

In other Ivanhoe Mines news, Director Peter Meredith sold 13,459 shares of Ivanhoe Mines stock in a transaction that occurred 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 transaction, the director directly 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 position. Also, insider Mark Sean Farren sold 14,300 shares of the company’s stock in a transaction that occurred on Tuesday, December 16th. The stock was sold at an average price of C$13.38, for a total value of C$191,334.00. Following the transaction, the insider owned 270,623 shares of the company’s stock, valued at approximately C$3,620,935.74. This trade represents a 5.02% decrease in their ownership of the stock. Insiders sold a total of 566,849 shares of company stock worth $8,458,448 in the last 90 days. 44.96% of the stock is owned by company 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.