Ivanhoe Mines (TSE:IVN) Issues Quarterly Earnings Results

Ivanhoe Mines (TSE:IVN – Get Free Report) posted its quarterly earnings data on Wednesday. The company reported C$0.04 earnings per share for the quarter, FiscalAI reports. Ivanhoe Mines had a return on equity of 2.32% and a net margin of 24.92%.The company had revenue of C$216.83 million during the quarter.

Ivanhoe Mines Trading Down 0.2%

IVN opened at C$10.57 on Friday. Ivanhoe Mines has a 1-year low of C$9.45 and a 1-year high of C$20.34. The stock has a market capitalization of C$15.08 billion, a PE ratio of 117.44 and a beta of 1.58. The company has a current ratio of 2.33, a quick ratio of 20.86 and a debt-to-equity ratio of 21.02. The firm has a 50-day moving average price of C$11.17 and a two-hundred day moving average price of C$12.84.

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Insider Activity

In other news, Director Setha Patricia Makhesha sold 5,200 shares of the company’s stock in a transaction that occurred on Thursday, May 21st. The shares were sold at an average price of C$11.45, for a total transaction of C$59,540.00. Following the transaction, the director directly owned 77,922 shares in the company, valued at approximately C$892,206.90. This represents a 6.26% decrease in their ownership of the stock. Insiders have sold 10,000 shares of company stock worth $114,554 in the last quarter. 44.96% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several research firms recently weighed in on IVN. Citigroup reduced their target price on shares of Ivanhoe Mines from C$18.00 to C$13.00 and set a “buy” rating for the company in a research note on Thursday, April 9th. Scotiabank upped 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 research note on Monday, June 15th. Morgan Stanley upgraded shares of Ivanhoe Mines from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from C$12.00 to C$13.20 in a research note on Wednesday, July 8th. Royal Bank Of Canada lowered Ivanhoe Mines from a “moderate buy” rating to a “hold” rating in a research note on Monday, April 6th. Finally, Canaccord Genuity Group raised Ivanhoe Mines from a “hold” rating to a “buy” rating and increased their target price for the stock from C$12.00 to C$13.00 in a report on Tuesday, July 21st. Five investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of C$14.41.

View Our Latest Stock Analysis on Ivanhoe Mines

Ivanhoe Mines Company Profile

(Get Free Report)

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.

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