Ivanhoe Mines Ltd (TSE:IVN) shares dropped 3.7% on Friday . The company traded as low as C$4.33 and last traded at C$4.39. Approximately 540,854 shares changed hands during trading, a decline of 62% from the average daily volume of 1,416,670 shares. The stock had previously closed at C$4.56.

Separately, CIBC restated a “neutral” rating and set a C$5.00 price target on shares of Ivanhoe Mines in a report on Friday, September 15th. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of C$6.21.

The stock’s market cap is $3.45 billion. The company has a 50-day moving average of $4.36 and a 200 day moving average of $4.46.

In other Ivanhoe Mines news, Director Setha Patricia Makhesha sold 11,600 shares of the company’s stock in a transaction on Tuesday, September 19th. The shares were sold at an average price of C$4.22, for a total transaction of C$48,952.00. Also, Director Matthieu Bos sold 7,000 shares of the company’s stock in a transaction on Thursday, August 24th. The stock was sold at an average price of C$4.53, for a total transaction of C$31,710.00. Insiders have sold 56,500 shares of company stock worth $245,297 over the last ninety days.

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About Ivanhoe Mines

Ivanhoe Mines Ltd. is a mineral exploration and development company. The Company focuses on exploration within the Central African Copperbelt and the Bushveld Complex. It has four segments: the Platreef property, the Kamoa property and joint venture, the Kipushi property and treasury. The segments are engaged in the exploration and development of mineral properties in South Africa, the Democratic Republic of Congo (DRC) and the restoration of a mine in the DRC, respectively.

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