Ivanhoe Mines (TSE:IVN) Cut to Hold at TD Securities

TD Securities downgraded shares of Ivanhoe Mines (TSE:IVN) from a strong-buy rating to a hold rating in a research report report published on Wednesday morning,Zacks reports.

IVN has been the subject of a number of other reports. Stifel Nicolaus cut shares of Ivanhoe Mines from a “buy” rating to a “hold” rating and lowered their price target for the company from C$17.00 to C$12.50 in a research report on Wednesday. Raymond James Financial cut their price objective on shares of Ivanhoe Mines from C$15.50 to C$12.00 and set a “market perform” rating on the stock in a report on Wednesday. Morgan Stanley raised shares of Ivanhoe Mines from an “equal weight” rating to an “overweight” rating and raised their target price for the company from C$12.00 to C$13.20 in a research note on Wednesday, July 8th. Scotia lifted their target price on shares of Ivanhoe Mines from C$13.00 to C$13.50 and gave the company a “sector perform” rating in a report on Wednesday, September 9th. Finally, Canaccord Genuity Group upped their price target on Ivanhoe Mines from C$13.00 to C$15.00 and gave the stock a “buy” rating in a research note on Wednesday, September 9th. Three analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of C$13.77.

Ivanhoe Mines Stock Up 1.3%

Shares of TSE IVN traded up C$0.11 during mid-day trading on Wednesday, hitting C$8.28. 4,526,865 shares of the stock traded hands, compared to its average volume of 4,486,503. The company has a debt-to-equity ratio of 3.54, a quick ratio of 20.86 and a current ratio of 2.21. Ivanhoe Mines has a 52 week low of C$7.64 and a 52 week high of C$20.34. The company has a market cap of C$11.81 billion, a price-to-earnings ratio of 75.27 and a beta of 1.41. 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 (TSE:IVN) last posted its quarterly earnings data on Tuesday, November 3rd. The company reported C$0.06 earnings per share (EPS) for the quarter. Ivanhoe Mines had a return on equity of 2.61% and a net margin of 21.51%. The business had revenue of C$375.60 million during the quarter. Research analysts anticipate that Ivanhoe Mines will post 1.01 EPS for the current 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.