Ivanhoe Mines (TSE:IVN) Sets New 52-Week Low – Here’s Why

Ivanhoe Mines Ltd. (TSE:IVN)’s stock price hit a new 52-week low during trading on Thursday. The stock traded as low as C$8.92 and last traded at C$9.04, with a volume of 978,116 shares. The stock had previously closed at C$9.53.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on IVN shares. Scotia boosted their price objective 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. Morgan Stanley raised 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. Stifel Nicolaus raised their target price on Ivanhoe Mines from C$15.00 to C$17.00 and gave the company a “buy” rating in a research note on Wednesday, September 9th. Finally, Canaccord Genuity Group lifted their target price on Ivanhoe Mines from C$13.00 to C$15.00 and gave the stock a “buy” rating in a report on Wednesday, September 9th. Five research 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, the stock has a consensus rating of “Moderate Buy” and an average target price of C$14.72.

Ivanhoe Mines Price Performance

The company has a debt-to-equity ratio of 21.70, a current ratio of 2.16 and a quick ratio of 20.86. The firm has a market cap of C$13.07 billion, a price-to-earnings ratio of 101.78 and a beta of 1.60. The stock’s fifty day moving average price is C$11.69 and its 200-day moving average price is C$11.47.

Ivanhoe Mines (TSE:IVN) last posted its quarterly earnings data on Wednesday, July 29th. The company reported C$0.04 EPS for the quarter. The firm had revenue of C$216.83 million during the quarter. Ivanhoe Mines had a net margin of 23.46% and a return on equity of 2.32%. Equities research analysts predict that Ivanhoe Mines Ltd. will post 1.01 EPS for the current fiscal year.

About Ivanhoe Mines

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.