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

Ivanhoe Mines Ltd. (TSE:IVNGet Free Report)’s stock price hit a new 52-week low during mid-day trading on Friday . The stock traded as low as C$9.51 and last traded at C$9.52, with a volume of 295783 shares trading hands. The stock had previously closed at C$9.98.

Analysts Set New Price Targets

Several brokerages have recently weighed in on IVN. BMO Capital Markets reduced their price target on Ivanhoe Mines from C$23.00 to C$16.00 in a report on Wednesday, April 1st. Citigroup dropped their price objective on Ivanhoe Mines from C$18.00 to C$13.00 and set a “buy” rating for the company in a report on Thursday, April 9th. TD Securities cut their price objective on Ivanhoe Mines from C$19.00 to C$13.00 and set a “buy” rating on the stock in a research report on Wednesday, April 1st. Raymond James Financial lowered Ivanhoe Mines from a “moderate buy” rating to a “hold” rating and reduced their target price for the stock from C$23.00 to C$17.00 in a research note on Wednesday, April 1st. Finally, Royal Bank Of Canada downgraded Ivanhoe Mines from a “moderate buy” rating to a “hold” rating in a research report on Monday, April 6th. Four investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of C$14.24.

View Our Latest Analysis on IVN

Ivanhoe Mines Stock Performance

The firm’s fifty day moving average price is C$11.45 and its 200 day moving average price is C$13.23. The firm has a market cap of C$13.74 billion, a P/E ratio of 107.00 and a beta of 1.58. The company has a debt-to-equity ratio of 21.02, a quick ratio of 20.86 and a current ratio of 2.33.

Insider Buying and Selling

In related news, Director Setha Patricia Makhesha sold 5,200 shares of the business’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 value of C$59,540.00. Following the completion of the transaction, the director owned 77,922 shares of the company’s stock, valued at C$892,206.90. The trade was a 6.26% decrease in their ownership of the stock. Insiders have sold a total of 10,000 shares of company stock valued at $114,554 over the last ninety days. Insiders own 44.96% of the company’s stock.

About Ivanhoe Mines

(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.

Further Reading

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