Ivanhoe Mines Ltd. (TSE:IVN) Receives C$17.55 Average Price Target from Analysts

Ivanhoe Mines Ltd. (TSE:IVN) has been assigned a consensus recommendation of “Moderate Buy” from the seven analysts that are covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is C$17.55.

Several equities research analysts recently issued reports on the stock. Scotiabank raised their price objective on shares of Ivanhoe Mines from C$18.50 to C$20.00 and gave the stock an “outperform” rating in a research report on Thursday, January 8th. Citigroup increased their price target on shares of Ivanhoe Mines from C$14.00 to C$18.00 and gave the company a “buy” rating in a research note on Wednesday, October 8th. Jefferies Financial Group lowered shares of Ivanhoe Mines from a “buy” rating to a “hold” rating and reduced their price target for the company from C$18.00 to C$16.00 in a research report on Monday, December 8th. Finally, Stifel Nicolaus upped their price objective on Ivanhoe Mines from C$16.00 to C$18.00 in a report on Tuesday, October 21st.

Ivanhoe Mines Stock Performance

Shares of Ivanhoe Mines stock opened at C$17.22 on Monday. The business’s 50 day moving average price is C$15.49 and its 200 day moving average price is C$13.77. The company has a market cap of C$24.45 billion, a price-to-earnings ratio of 78.27 and a beta of 1.96. The company has a debt-to-equity ratio of 2.48, a quick ratio of 20.86 and a current ratio of 1.36. Ivanhoe Mines has a one year low of C$8.76 and a one year high of C$20.34.

Ivanhoe Mines (TSE:IVN) last issued its earnings results on Wednesday, October 29th. The company reported C$0.02 earnings per share (EPS) for the quarter. The company had revenue of C$180.18 million during the quarter. On average, research analysts predict that Ivanhoe Mines will post 1.0136483 EPS for the current year.

Insider Activity

In related news, Director Peter Meredith sold 13,459 shares of the business’s stock in a transaction dated Tuesday, January 13th. The shares were sold at an average price of C$16.43, for a total value of C$221,131.37. Following the sale, the director directly owned 841,256 shares in the company, valued at approximately C$13,821,836.08. The trade was a 1.57% decrease in their position. Also, insider Citic Metal Africa Investments Limited sold 350,000 shares of the stock in a transaction dated Tuesday, December 30th. The stock was sold at an average price of C$15.71, for a total transaction of C$5,498,500.00. Insiders have sold a total of 566,849 shares of company stock valued at $8,458,448 in the last quarter. Insiders own 44.96% of the company’s stock.

About Ivanhoe Mines

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.