Ivanhoe Mines (TSE:IVN) Sets New 1-Year Low – Here’s Why

Shares of Ivanhoe Mines Ltd. (TSE:IVN) reached a new 52-week low during trading on Thursday. The company traded as low as C$8.92 and last traded at C$9.04, with a volume of 978,116 shares traded. The stock had previously closed at C$9.53.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. Canaccord Genuity Group upped their price objective on shares of Ivanhoe Mines from C$13.00 to C$15.00 and gave the company a “buy” rating in a report on Wednesday, September 9th. Scotia raised their target price on shares of Ivanhoe Mines from C$13.00 to C$13.50 and gave the stock a “sector perform” rating in a research note on Wednesday, September 9th. Morgan Stanley raised shares of Ivanhoe Mines from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from C$12.00 to C$13.20 in a report on Wednesday, July 8th. Finally, Stifel Nicolaus lifted their target price on shares of Ivanhoe Mines from C$15.00 to C$17.00 and gave the stock a “buy” rating in a report on Wednesday, September 9th. Five equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of C$14.72.

Ivanhoe Mines Trading Down 3.9%

The firm has a market capitalization of C$13.07 billion, a P/E ratio of 101.78 and a beta of 1.60. The business’s 50-day moving average is C$11.78 and its 200 day moving average is C$11.50. The company has a debt-to-equity ratio of 21.70, a current ratio of 2.16 and a quick ratio of 20.86.

Ivanhoe Mines (TSE:IVN) last issued its quarterly earnings data on Wednesday, July 29th. The company reported C$0.04 earnings per share for the quarter. The business had revenue of C$216.83 million during the quarter. Ivanhoe Mines had a net margin of 23.46% and a return on equity of 2.32%. As a group, analysts anticipate that Ivanhoe Mines Ltd. will post 1.01 EPS for the current fiscal year.

Ivanhoe Mines Company Profile

Ivanhoe Mines is a Canadian mining company focused on advancing its three principal operations in Southern Africa; the Kamoa-Kakula Copper Complex in the DRC, the ultra-high-grade Kipushi zinc-copper-germanium-silver mine, also in the DRC; and the tier-one Platreef platinum-palladium-nickel-rhodium-gold-copper mine in South Africa. Ivanhoe Mines is exploring for copper in its highly prospective, 54-100% owned exploration licences in the Western Forelands, covering an area over six times larger than the adjacent Kamoa-Kakula Copper Complex, including the high-grade discoveries in the Makoko District.