Ivanhoe Mines (TSE:IVN) Cut to “Hold” at Stifel Nicolaus

Stifel Nicolaus cut shares of Ivanhoe Mines (TSE:IVN) from a buy rating to a hold rating in a research report report published on Wednesday morning, Marketbeat.com reports. Stifel Nicolaus currently has C$12.50 target price on the stock, down from their previous target price of C$17.00.

Several other brokerages have also recently weighed in on IVN. Canaccord Genuity Group lifted their price target on Ivanhoe Mines from C$13.00 to C$15.00 and gave the company a “buy” rating in a research report on Wednesday, September 9th. Morgan Stanley raised Ivanhoe Mines from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from C$12.00 to C$13.20 in a report on Wednesday, July 8th. Scotia raised their target price on 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. Finally, Raymond James Financial reduced their target price on Ivanhoe Mines from C$15.50 to C$12.00 and set a “market perform” rating for the company in a report on Wednesday. Three analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of C$13.77.

Ivanhoe Mines Stock Performance

Shares of TSE IVN traded up C$0.11 during midday trading on Wednesday, hitting C$8.28. The company’s stock had a trading volume of 4,526,865 shares, compared to its average volume of 4,486,503. The stock has a fifty day moving average price of C$11.10 and a 200 day moving average price of C$12.16. Ivanhoe Mines has a one year low of C$7.64 and a one year high of C$20.34. The company has a current ratio of 2.21, a quick ratio of 20.86 and a debt-to-equity ratio of 3.54. The firm has a market capitalization of C$11.81 billion, a price-to-earnings ratio of 75.27 and a beta of 1.41.

Ivanhoe Mines (TSE:IVN) last released its quarterly earnings data on Tuesday, November 3rd. The company reported C$0.06 EPS for the quarter. Ivanhoe Mines had a net margin of 21.51% and a return on equity of 2.61%. The company had revenue of C$375.60 million during the quarter. On average, research analysts forecast that Ivanhoe Mines 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.