Ivanhoe Mines Ltd. (TSE:IVN) Receives Average Rating of “Buy” from Analysts

Ivanhoe Mines Ltd. (TSE:IVN) has earned an average recommendation of “Buy” from the eight brokerages that are presently covering the stock, Marketbeat Ratings reports. Eight analysts have rated the stock with a buy recommendation. The average twelve-month price target among brokers that have issued a report on the stock in the last year is C$24.00.

Several equities research analysts have issued reports on the stock. TD Securities decreased their price target on shares of Ivanhoe Mines from C$25.00 to C$24.00 and set a “buy” rating on the stock in a research note on Thursday, January 9th. Scotiabank decreased their target price on shares of Ivanhoe Mines from C$21.00 to C$20.00 and set an “outperform” rating on the stock in a research report on Thursday, January 9th. Finally, Raymond James lowered their target price on shares of Ivanhoe Mines from C$25.00 to C$24.00 and set an “outperform” rating for the company in a research note on Thursday, January 9th.

Ivanhoe Mines Stock Up 5.2 %

IVN opened at C$15.91 on Friday. The firm has a market cap of C$21.48 billion, a P/E ratio of 99.44 and a beta of 1.94. The business’s fifty day simple moving average is C$17.44 and its 200 day simple moving average is C$17.96. Ivanhoe Mines has a 52 week low of C$13.79 and a 52 week high of C$21.32. The company has a quick ratio of 20.86, a current ratio of 1.17 and a debt-to-equity ratio of 4.24.

Insiders Place Their Bets

In related news, Senior Officer Chao (Peter) Zhou sold 4,800 shares of the stock in a transaction that occurred 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 Jinghe Chen sold 60,288 shares of the firm’s stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of C$19.00, for a total transaction of C$1,145,472.00. Insiders have sold a total of 68,088 shares of company stock valued at $1,292,379 over the last quarter. Company insiders own 44.96% of the company’s stock.

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.