Ivanhoe Mines (TSE:IVN) Hits New 12-Month Low – Should You Sell?

Shares of Ivanhoe Mines Ltd. (TSE:IVN) hit a new 52-week low on Friday . The company traded as low as C$9.51 and last traded at C$9.52, with a volume of 295783 shares trading hands. The stock had previously closed at C$9.98.

Analyst Upgrades and Downgrades

IVN has been the topic of several analyst reports. TD Securities reduced their target price on shares of Ivanhoe Mines from C$19.00 to C$13.00 and set a “buy” rating for the company in a report on Wednesday, April 1st. BMO Capital Markets decreased their price target on shares of Ivanhoe Mines from C$23.00 to C$16.00 in a research report on Wednesday, April 1st. Citigroup cut their price objective on shares of Ivanhoe Mines from C$18.00 to C$13.00 and set a “buy” rating on the stock in a research report on Thursday, April 9th. Royal Bank Of Canada downgraded shares of Ivanhoe Mines from a “moderate buy” rating to a “hold” rating in a research report on Monday, April 6th. Finally, Raymond James Financial lowered shares of Ivanhoe Mines from a “moderate buy” rating to a “hold” rating and reduced their price objective for the stock from C$23.00 to C$17.00 in a research note on Wednesday, April 1st. Four analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of C$14.24.

Ivanhoe Mines Price Performance

The stock’s 50 day simple moving average is C$11.45 and its 200-day simple moving average is C$13.23. The firm has a market cap of C$13.74 billion, a price-to-earnings ratio of 107.00 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.

Insider Activity

In related news, Director Setha Patricia Makhesha sold 5,200 shares of the company’s stock in a transaction on 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 transaction, the director directly owned 77,922 shares of the company’s stock, valued at C$892,206.90. This represents a 6.26% decrease in their position. Over the last 90 days, insiders sold 10,000 shares of company stock valued at $114,554. 44.96% of the stock is 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.