Ivanhoe Mines (TSE:IVN) Price Target Cut to C$24.00 by Analysts at TD Securities

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

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

Ivanhoe Mines Price Performance

Shares of IVN traded up C$0.28 during mid-day trading on Thursday, reaching C$17.20. The stock had a trading volume of 485,183 shares, compared to its average volume of 1,187,983. The business has a fifty day moving average of C$18.30 and a 200 day moving average of C$18.19. 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$23.22 billion, a price-to-earnings ratio of 107.50 and a beta of 1.94. Ivanhoe Mines has a 12 month low of C$12.94 and a 12 month high of C$21.32.

Insiders Place Their Bets

In other Ivanhoe Mines news, Director Martie Cloete sold 2,800 shares of the stock in a transaction dated Friday, November 8th. The shares were sold at an average price of C$18.56, for a total value of C$51,968.00. Also, Director Jinghe Chen sold 60,288 shares of Ivanhoe Mines stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of C$19.00, for a total transaction of C$1,145,472.00. In the last quarter, insiders have sold 68,088 shares of company stock valued at $1,292,379. 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.