Analysts Set Ivanhoe Mines Ltd. (TSE:IVN) Price Target at C$24.00

Ivanhoe Mines Ltd. (TSE:IVN) has been given a consensus rating of “Buy” by the nine ratings firms that are covering the firm, MarketBeat.com reports. Nine investment analysts have rated the stock with a buy rating. The average 1 year price objective among analysts that have covered the stock in the last year is C$24.00.

Several equities analysts have weighed in on IVN shares. TD Securities increased their price objective on Ivanhoe Mines from C$23.00 to C$25.00 in a report on Monday, July 22nd. Raymond James increased their price target on Ivanhoe Mines from C$21.00 to C$24.00 and gave the stock an “outperform” rating in a research note on Thursday, May 23rd. Canaccord Genuity Group boosted their price objective on Ivanhoe Mines from C$24.00 to C$25.00 in a research note on Monday, July 22nd. Citigroup increased their target price on shares of Ivanhoe Mines from C$15.00 to C$24.00 and gave the stock a “buy” rating in a research report on Thursday, June 20th. Finally, Scotiabank lowered their price target on shares of Ivanhoe Mines from C$23.00 to C$21.00 in a research report on Monday, August 19th.

Insider Activity at Ivanhoe Mines

In other Ivanhoe Mines news, Director Delphine Traoré acquired 5,704 shares of the company’s stock in a transaction that occurred on Monday, June 17th. The stock was bought at an average price of C$17.40 per share, with a total value of C$99,249.60. In other news, insider CITIC Metal Africa Investments Limited sold 248,314 shares of the company’s stock in a transaction dated Thursday, June 13th. The stock was sold at an average price of C$17.32, for a total value of C$4,300,723.99. Also, Director Delphine Traoré acquired 5,704 shares of the firm’s stock in a transaction that occurred on Monday, June 17th. The shares were purchased at an average cost of C$17.40 per share, for a total transaction of C$99,249.60. Over the last 90 days, insiders sold 12,064,614 shares of company stock valued at $210,024,706. Corporate insiders own 45.03% of the company’s stock.

Ivanhoe Mines Price Performance

IVN opened at C$15.81 on Tuesday. Ivanhoe Mines has a fifty-two week low of C$9.89 and a fifty-two week high of C$21.32. The firm has a 50-day moving average of C$17.64 and a 200 day moving average of C$17.61. The company has a debt-to-equity ratio of 4.24, a quick ratio of 20.86 and a current ratio of 1.17. The firm has a market cap of C$21.34 billion, a P/E ratio of 98.81 and a beta of 1.93.

Ivanhoe Mines (TSE:IVN) last released its earnings results on Wednesday, July 31st. The company reported C$0.08 earnings per share for the quarter, beating analysts’ consensus estimates of C$0.07 by C$0.01. On average, research analysts expect that Ivanhoe Mines will post 1.034134 EPS for the current year.

Ivanhoe Mines Company Profile

Ivanhoe Mines Ltd. engages in the mining, development, and exploration of minerals and precious metals primarily in Africa. It explores for platinum, palladium, nickel, copper, gold, rhodium, zinc, silver, germanium, and lead deposits. The company's projects include the Platreef project located in the Northern Limb of South Africa's Bushveld Complex; the Kipushi project located in Haut-Katanga Province, Democratic Republic of Congo; and the Kamoa-Kakula project located within the Central African Copperbelt.