Brokerages Set Ivanhoe Mines Ltd. (TSE:IVN) PT at C$24.30

Ivanhoe Mines Ltd. (TSE:IVN) has been given an average recommendation of “Buy” by the eight analysts that are presently covering the company, Marketbeat reports. Eight analysts have rated the stock with a buy rating. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is C$24.00.

Several analysts recently issued reports on IVN shares. TD Securities lowered their price target on Ivanhoe Mines from C$25.00 to C$24.00 and set a “buy” rating for the company in a report on Thursday. Scotiabank lowered their target price on Ivanhoe Mines from C$21.00 to C$20.00 and set an “outperform” rating for the company in a research note on Thursday. Finally, Raymond James reduced their price target on Ivanhoe Mines from C$25.00 to C$24.00 and set an “outperform” rating on the stock in a research report on Thursday.

Ivanhoe Mines Price Performance

Ivanhoe Mines stock opened at C$17.27 on Monday. The company has a quick ratio of 20.86, a current ratio of 1.17 and a debt-to-equity ratio of 4.24. The firm has a market capitalization of C$23.31 billion, a P/E ratio of 107.94 and a beta of 1.94. The firm has a fifty day moving average of C$18.21 and a 200-day moving average of C$18.19. Ivanhoe Mines has a 52-week low of C$12.94 and a 52-week high of C$21.32.

Insider Activity at Ivanhoe Mines

In other Ivanhoe Mines news, Director Martie Cloete sold 2,800 shares of the company’s stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of C$18.56, for a total transaction of C$51,968.00. Also, Director Jinghe Chen sold 60,288 shares of the stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of C$19.00, for a total value of C$1,145,472.00. Insiders have sold 68,088 shares of company stock valued at $1,292,379 over the last ninety days. Corporate insiders own 44.96% of the company’s stock.

About Ivanhoe Mines

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.