Ivanhoe Mines Ltd. (TSE:IVN) Receives C$17.25 Consensus Target Price from Analysts

Shares of Ivanhoe Mines Ltd. (TSE:IVN) have received an average rating of “Buy” from the eight ratings firms that are covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a hold recommendation, six have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is C$17.25.

Several brokerages have recently issued reports on IVN. Citigroup upped their target price on shares of Ivanhoe Mines from C$14.00 to C$18.00 and gave the stock a “buy” rating in a research note on Wednesday, October 8th. Stifel Nicolaus boosted their price objective on shares of Ivanhoe Mines from C$16.00 to C$18.00 in a report on Tuesday, October 21st. Canaccord Genuity Group increased their target price on Ivanhoe Mines from C$14.00 to C$16.50 and gave the company a “buy” rating in a research note on Wednesday, October 1st. Scotiabank upgraded Ivanhoe Mines from a “hold” rating to an “outperform” rating and boosted their price target for the stock from C$12.50 to C$17.00 in a research note on Monday, September 29th. Finally, TD Securities upped their price target on Ivanhoe Mines from C$13.00 to C$16.00 and gave the company a “buy” rating in a report on Monday, September 29th.

Ivanhoe Mines Trading Down 3.5%

TSE IVN opened at C$16.09 on Thursday. Ivanhoe Mines has a 12 month low of C$8.76 and a 12 month high of C$17.47. The company has a current ratio of 1.36, a quick ratio of 20.86 and a debt-to-equity ratio of 2.48. The stock’s fifty day moving average price is C$14.14 and its 200-day moving average price is C$13.02. The stock has a market cap of C$22.84 billion, a P/E ratio of 73.14 and a beta of 1.96.

Ivanhoe Mines (TSE:IVN) last announced its quarterly earnings results on Wednesday, October 29th. The company reported C$0.02 earnings per share (EPS) for the quarter. The firm had revenue of C$180.18 million during the quarter. As a group, equities analysts forecast that Ivanhoe Mines will post 1.0136483 EPS for the current fiscal year.

Insider Transactions at Ivanhoe Mines

In related news, insider Citic Metal Africa Investments Limited sold 350,000 shares of the firm’s stock in a transaction that occurred on Tuesday, December 30th. The shares were sold at an average price of C$15.71, for a total value of C$5,498,500.00. Also, insider Mark Sean Farren sold 14,300 shares of the business’s stock in a transaction on Tuesday, December 16th. The shares were sold at an average price of C$13.38, for a total transaction of C$191,334.00. Following the sale, the insider owned 270,623 shares of the company’s stock, valued at approximately C$3,620,935.74. This represents a 5.02% decrease in their ownership of the stock. In the last ninety days, insiders have sold 550,290 shares of company stock worth $8,186,323. Insiders own 44.96% of the company’s stock.

Ivanhoe Mines Company Profile

Ivanhoe Mines Ltd is a mineral exploration and development company. The company, together with its subsidiaries, explores, develops, and recovers minerals and precious gems from its property interests located in Africa. The group explores platinum, nickel, copper, gold, silver, cobalt, iron, vanadium, and chrome. It operates in four segments: Platreef property, Kamoa Holding joint venture, Kipushi properties, and the Company’s treasury offices.