Ivanhoe Mines (TSE:IVN) Reaches New 12-Month Low – Here’s Why

Ivanhoe Mines Ltd. (TSE:IVN)’s share price reached a new 52-week low on Tuesday . The stock traded as low as C$10.00 and last traded at C$10.02, with a volume of 1556443 shares traded. The stock had previously closed at C$10.57.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on IVN. Scotiabank raised their price objective on Ivanhoe Mines from C$13.00 to C$13.50 and gave the company a “sector perform” rating in a research report on Monday, June 15th. Raymond James Financial downgraded Ivanhoe Mines from a “moderate buy” rating to a “hold” rating and dropped their target price for the stock from C$23.00 to C$17.00 in a report on Wednesday, April 1st. Royal Bank Of Canada cut Ivanhoe Mines from a “moderate buy” rating to a “hold” rating in a research note on Monday, April 6th. TD Securities reduced their price target on 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. Finally, BMO Capital Markets lowered their price target on Ivanhoe Mines from C$23.00 to C$16.00 in a research report on Wednesday, April 1st. Three analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Ivanhoe Mines presently has a consensus rating of “Hold” and a consensus price target of C$14.38.

Ivanhoe Mines Trading Down 3.9%

The stock’s fifty day moving average price is C$11.59 and its 200 day moving average price is C$13.49. The company has a quick ratio of 20.86, a current ratio of 2.33 and a debt-to-equity ratio of 21.02. The stock has a market cap of C$14.49 billion, a PE ratio of 112.89 and a beta of 1.58.

Insider Transactions at Ivanhoe Mines

In related news, Director Setha Patricia Makhesha sold 5,200 shares of the company’s stock in a transaction that occurred 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 approximately C$892,206.90. This represents a 6.26% decrease in their position. Over the last quarter, insiders sold 10,000 shares of company stock valued at $114,554. Corporate insiders own 44.96% of the company’s stock.

Ivanhoe Mines Company Profile

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.