TD Securities Issues Pessimistic Forecast for Ivanhoe Mines (TSE:IVN) Stock Price

Ivanhoe Mines (TSE:IVN) had its price target decreased by stock analysts at TD Securities from C$25.00 to C$24.00 in a research report issued on Thursday,BayStreet.CA reports. The firm presently has a “buy” rating on the stock. TD Securities’ target price indicates a potential upside of 39.53% from the company’s previous close.

Separately, Scotiabank increased their target price on Ivanhoe Mines from C$21.00 to C$22.00 and gave the company an “outperform” rating in a report on Tuesday, October 8th. Eight research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of C$24.00.

Ivanhoe Mines Stock Up 1.7 %

Shares of Ivanhoe Mines stock traded up C$0.28 on Thursday, reaching C$17.20. 485,183 shares of the company were exchanged, compared to its average volume of 1,187,983. The stock’s 50 day moving average price is C$18.30 and its 200-day moving average price is C$18.19. The company has a debt-to-equity ratio of 4.24, a current ratio of 1.17 and a quick ratio of 20.86. Ivanhoe Mines has a 1-year low of C$12.94 and a 1-year high of C$21.32. The company has a market cap of C$23.22 billion, a P/E ratio of 107.50 and a beta of 1.94.

Insiders Place Their Bets

In related news, Senior Officer Chao (Peter) Zhou sold 4,800 shares of the firm’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of C$19.00, for a total transaction of C$91,200.00. Also, Director Martie Cloete sold 2,800 shares of the company’s stock in a transaction dated Friday, November 8th. The stock was sold at an average price of C$18.56, for a total transaction of C$51,968.00. Insiders sold 68,088 shares of company stock worth $1,292,379 over the last three months. 44.96% of the stock is owned by insiders.

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.