Ivanhoe Mines (TSE:IVN) Hits New 52-Week Low – What’s Next?

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

Analyst Upgrades and Downgrades

IVN has been the topic of several recent research reports. Raymond James Financial cut shares of Ivanhoe Mines from a “moderate buy” rating to a “hold” rating and dropped their price objective for the company from C$23.00 to C$17.00 in a research note on Wednesday, April 1st. Canaccord Genuity Group dropped their price target on shares of Ivanhoe Mines from C$15.00 to C$11.50 and set a “hold” rating on the stock in a research note on Monday, April 6th. 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. Scotiabank lifted their price objective on Ivanhoe Mines from C$13.00 to C$13.50 and gave the company a “sector perform” rating in a report on Monday, June 15th. Finally, BMO Capital Markets cut their target price on Ivanhoe Mines from C$23.00 to C$16.00 in a research note on Wednesday, April 1st. Four equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of C$14.24.

Ivanhoe Mines Stock Up 1.1%

The stock has a market capitalization of C$14.48 billion, a PE ratio of 112.78 and a beta of 1.58. The firm has a 50 day moving average of C$11.52 and a two-hundred day moving average of C$13.44. The company has a current ratio of 2.33, a quick ratio of 20.86 and a debt-to-equity ratio of 21.02.

Insiders Place Their Bets

In other Ivanhoe Mines 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 sale, the director owned 77,922 shares of the company’s stock, valued at approximately C$892,206.90. This represents a 6.26% decrease in their ownership of the stock. Insiders sold a total of 10,000 shares of company stock valued at $114,554 over the last quarter. 44.96% of the stock is currently owned by corporate insiders.

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.