Ivanhoe Mines Ltd. (TSE:IVN) Receives C$24.30 Consensus Target Price from Analysts

Shares of Ivanhoe Mines Ltd. (TSE:IVN) have received an average rating of “Buy” from the eight research firms that are presently covering the company, MarketBeat.com reports. Eight analysts have rated the stock with a buy recommendation. The average 12-month price objective among brokers that have covered the stock in the last year is C$24.30.

IVN has been the topic of several recent analyst reports. Royal Bank of Canada reduced their target price on shares of Ivanhoe Mines from C$25.00 to C$24.00 and set an “outperform” rating on the stock in a research note on Tuesday, September 10th. Scotiabank lifted their price target on shares of Ivanhoe Mines from C$21.00 to C$22.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 8th.

Ivanhoe Mines Price Performance

The firm has a market capitalization of C$24.48 billion, a price-to-earnings ratio of 113.31 and a beta of 1.94. 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 52-week low of C$12.51 and a 52-week high of C$21.32. The business has a 50-day simple moving average of C$19.05 and a 200-day simple moving average of C$18.37.

Insider Buying and Selling at Ivanhoe Mines

In related news, Director Martie Cloete sold 2,800 shares of the business’s stock in a transaction on Friday, November 8th. The shares were 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 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 transaction of C$1,145,472.00. In the last quarter, insiders have sold 68,088 shares of company stock worth $1,292,379. 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.