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

Shares of Ivanhoe Mines Ltd. (TSE:IVN) have earned an average rating of “Buy” from the eight research firms that are presently covering the company, Marketbeat.com reports. Eight equities research analysts have rated the stock with a buy recommendation. The average 1 year target price among analysts that have covered the stock in the last year is C$24.00.

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

Ivanhoe Mines Price Performance

Ivanhoe Mines stock opened at C$17.27 on Monday. The firm has a market capitalization of C$23.31 billion, a PE ratio of 107.94 and a beta of 1.94. Ivanhoe Mines has a 52 week low of C$12.94 and a 52 week high of C$21.32. The firm’s 50-day simple moving average is C$18.21 and its 200 day simple moving average is C$18.19. The company has a quick ratio of 20.86, a current ratio of 1.17 and a debt-to-equity ratio of 4.24.

Insider Buying and Selling

In other Ivanhoe Mines news, Senior Officer Chao (Peter) Zhou sold 4,800 shares of Ivanhoe Mines stock in a transaction on Monday, November 25th. The shares were sold at an average price of C$19.00, for a total value of C$91,200.00. Also, Director Jinghe Chen sold 60,288 shares of the company’s stock in a transaction 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. Over the last ninety days, insiders have sold 68,088 shares of company stock worth $1,292,379. 44.96% of the stock is owned by company 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.