Ivanhoe Mines Ltd. (TSE:IVN) Receives Average Recommendation of “Moderate Buy” from Analysts

Ivanhoe Mines Ltd. (TSE:IVN) has been assigned a consensus rating of “Moderate Buy” from the seven ratings firms that are currently covering the company, Marketbeat.com reports. One research analyst has rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is C$17.55.

Several research analysts recently issued reports on IVN shares. Stifel Nicolaus upped their price target on shares of Ivanhoe Mines from C$16.00 to C$18.00 in a research report on Tuesday, October 21st. 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 lowered their price target for the company from C$18.00 to C$16.00 in a report on Monday, December 8th. Scotiabank upped their price objective on Ivanhoe Mines from C$18.50 to C$20.00 and gave the stock an “outperform” rating in a report on Thursday, January 8th. Finally, TD Securities lifted their target price on Ivanhoe Mines from C$13.00 to C$16.00 and gave the company a “buy” rating in a research note on Monday, September 29th.

Ivanhoe Mines Stock Up 4.8%

TSE IVN opened at C$16.96 on Monday. The stock’s 50 day simple moving average is C$14.91 and its 200 day simple moving average is C$13.55. Ivanhoe Mines has a one year low of C$8.76 and a one year high of C$17.27. The firm has a market cap of C$24.08 billion, a PE ratio of 77.09 and a beta of 1.96. The company has a debt-to-equity ratio of 2.48, a current ratio of 1.36 and a quick ratio of 20.86.

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

Insiders Place Their Bets

In other news, insider Citic Metal Africa Investments Limited sold 350,000 shares of Ivanhoe Mines 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 transaction of C$5,498,500.00. Also, Director Peter Meredith sold 13,459 shares of the business’s stock in a transaction that occurred on Tuesday, January 13th. The stock was sold at an average price of C$16.43, for a total transaction of C$221,131.37. Following the sale, the director directly owned 841,256 shares of the company’s stock, valued at approximately C$13,821,836.08. This trade represents a 1.57% decrease in their ownership of the stock. In the last three months, insiders sold 566,849 shares of company stock valued at $8,458,448. 44.96% of the stock is currently owned by insiders.

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.