Ivanhoe Mines Ltd. (TSE:IVN) Receives C$17.95 Consensus PT from Brokerages

Ivanhoe Mines Ltd. (TSE:IVN) has been assigned an average recommendation of “Moderate Buy” from the seven research firms that are presently covering the firm, MarketBeat.com reports. Two equities research analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is C$17.80.

A number of research analysts recently weighed in on the stock. Scotiabank lifted their price objective on shares of Ivanhoe Mines from C$18.50 to C$20.00 and gave the company an “outperform” rating in a research note on Thursday, January 8th. Jefferies Financial Group cut Ivanhoe Mines from a “buy” rating to a “hold” rating and reduced their price objective for the company from C$18.00 to C$16.00 in a research note on Monday, December 8th. Stifel Nicolaus reduced their price objective on shares of Ivanhoe Mines from C$28.00 to C$22.00 and set a “buy” rating on the stock in a research report on Wednesday, February 11th. Finally, Canaccord Genuity Group cut Ivanhoe Mines from a “buy” rating to a “hold” rating and dropped their price target for the stock from C$18.00 to C$15.00 in a research report on Friday.

Ivanhoe Mines Stock Up 2.4%

Ivanhoe Mines stock opened at C$15.97 on Friday. The firm has a market capitalization of C$22.67 billion, a price-to-earnings ratio of 72.59 and a beta of 1.91. The company has a current ratio of 1.36, a quick ratio of 20.86 and a debt-to-equity ratio of 2.48. Ivanhoe Mines has a 1-year low of C$8.76 and a 1-year high of C$20.34. The firm’s fifty day moving average price is C$16.34 and its two-hundred day moving average price is C$14.41.

Ivanhoe Mines (TSE:IVN) last issued its quarterly earnings data on Wednesday, February 18th. The company reported C$0.06 earnings per share (EPS) for the quarter. The firm had revenue of C$183.99 million during the quarter. On average, equities research analysts predict that Ivanhoe Mines will post 1.0136483 earnings per share for the current fiscal year.

Insider Activity at Ivanhoe Mines

In other Ivanhoe Mines news, insider Citic Metal Africa Investments Limited sold 350,000 shares of the business’s 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. Also, Director Peter Meredith sold 13,459 shares of the company’s stock in a transaction that occurred on Tuesday, January 13th. The shares were 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 represents a 1.57% decrease in their ownership of the stock. Insiders have sold a total of 566,849 shares of company stock worth $8,458,448 over the last quarter. Company 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.