Ivanhoe Mines (TSE:IVN) Sets New 1-Year Low – Time to Sell?

Shares of Ivanhoe Mines Ltd. (TSE:IVN) reached a new 52-week low during trading on Thursday. The company traded as low as C$7.67 and last traded at C$8.02, with a volume of 2,797,423 shares. The stock had previously closed at C$8.01.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the company. Raymond James Financial reduced their target price on Ivanhoe Mines from C$15.50 to C$12.00 and set a “market perform” rating on the stock in a report on Wednesday, November 4th. Canaccord Genuity Group lifted their price objective on Ivanhoe Mines from C$13.00 to C$15.00 and gave the company a “buy” rating in a research note on Wednesday, September 9th. Stifel Nicolaus lowered Ivanhoe Mines from a “buy” rating to a “hold” rating and reduced their price objective for the company from C$17.00 to C$12.50 in a research note on Wednesday, November 4th. TD Securities cut Ivanhoe Mines from a “strong-buy” rating to a “hold” rating in a report on Wednesday, November 4th. Finally, Scotia increased 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 report on Wednesday, September 9th. Three investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of C$13.77.

Ivanhoe Mines Stock Performance

The company has a debt-to-equity ratio of 24.05, a current ratio of 2.21 and a quick ratio of 20.86. The stock has a 50-day moving average price of C$10.88 and a 200-day moving average price of C$12.04. The firm has a market capitalization of C$11.41 billion, a PE ratio of 72.73 and a beta of 1.41.

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