Citic Metal Africa Investments Limited Sells 350,000 Shares of Ivanhoe Mines (TSE:IVN) Stock

Ivanhoe Mines Ltd. (TSE:IVN) insider Citic Metal Africa Investments Limited sold 350,000 shares of the firm’s stock in a transaction dated Tuesday, December 30th. The stock was sold at an average price of C$15.71, for a total value of C$5,498,500.00.

Ivanhoe Mines Trading Down 1.4%

Shares of IVN opened at C$15.61 on Friday. The business’s 50-day moving average price is C$14.00 and its 200-day moving average price is C$12.84. Ivanhoe Mines Ltd. has a twelve month low of C$8.76 and a twelve month high of C$18.21. The stock has a market cap of C$22.16 billion, a PE ratio of 70.95 and a beta of 1.96. The company has a quick ratio of 20.86, a current ratio of 1.36 and a debt-to-equity ratio of 2.48.

Ivanhoe Mines (TSE:IVN) last released its quarterly earnings data on Wednesday, October 29th. The company reported C$0.02 EPS for the quarter. The firm had revenue of C$180.18 million during the quarter. On average, equities analysts forecast that Ivanhoe Mines Ltd. will post 1.0136483 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on IVN shares. Jefferies Financial Group cut shares of Ivanhoe Mines from a “buy” rating to a “hold” rating and decreased their price target for the stock from C$18.00 to C$16.00 in a report on Monday, December 8th. Citigroup boosted their target price on Ivanhoe Mines from C$14.00 to C$18.00 and gave the stock a “buy” rating in a research report on Wednesday, October 8th. Canaccord Genuity Group upped their target price on Ivanhoe Mines from C$14.00 to C$16.50 and gave the stock a “buy” rating in a research note on Wednesday, October 1st. Scotiabank upgraded Ivanhoe Mines from a “hold” rating to an “outperform” rating and lifted their price target for the company from C$12.50 to C$17.00 in a research report on Monday, September 29th. Finally, TD Securities boosted their price objective on Ivanhoe Mines from C$13.00 to C$16.00 and gave the stock a “buy” rating in a report on Monday, September 29th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Buy” and an average target price of C$17.25.

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.