Ivanhoe Mines Ltd (IVN) Receives Consensus Recommendation of “Buy” from Brokerages
Ivanhoe Mines Ltd (TSE:IVN) has been given a consensus rating of “Buy” by the seven analysts that are currently covering the company, Marketbeat reports. Two investment analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is C$6.79.
A number of research firms have issued reports on IVN. TD Securities set a C$7.50 target price on shares of Ivanhoe Mines and gave the stock a “speculative buy” rating in a research report on Monday. CIBC increased their target price on shares of Ivanhoe Mines from C$5.00 to C$5.50 in a research report on Monday. Finally, BMO Capital Markets increased their target price on shares of Ivanhoe Mines from C$7.00 to C$8.00 and gave the stock an “outperform” rating in a research report on Monday, October 30th.
In related news, Director Setha Patricia Makhesha sold 11,600 shares of the firm’s stock in a transaction on Tuesday, September 19th. The shares were sold at an average price of C$4.22, for a total value of C$48,952.00. Also, Director Matthieu Bos sold 7,000 shares of the firm’s stock in a transaction on Thursday, August 24th. The shares were sold at an average price of C$4.53, for a total transaction of C$31,710.00. Insiders sold a total of 56,500 shares of company stock worth $245,297 over the last quarter.
Ivanhoe Mines (TSE:IVN) traded down C$0.05 during mid-day trading on Monday, reaching C$4.81. 1,218,141 shares of the company’s stock were exchanged, compared to its average volume of 2,438,189. Ivanhoe Mines has a 12 month low of C$2.25 and a 12 month high of C$5.47.
Ivanhoe Mines Company Profile
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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