Brokerages Set Ivanhoe Mines Ltd. (TSE:IVN) Target Price at C$14.24

Ivanhoe Mines Ltd. (TSE:IVN) has received a consensus recommendation of “Moderate Buy” from the nine research firms that are covering the firm, Marketbeat reports. Four investment analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is C$14.41.

Several research firms have recently issued reports on IVN. Canaccord Genuity Group raised shares of Ivanhoe Mines from a “hold” rating to a “buy” rating and increased their price objective for the stock from C$12.00 to C$13.00 in a research report on Tuesday. BMO Capital Markets reduced their target price on shares of Ivanhoe Mines from C$23.00 to C$16.00 in a report on Wednesday, April 1st. Raymond James Financial cut shares of Ivanhoe Mines from a “moderate buy” rating to a “hold” rating and decreased their price target for the stock from C$23.00 to C$17.00 in a research report on Wednesday, April 1st. Royal Bank Of Canada downgraded Ivanhoe Mines from a “moderate buy” rating to a “hold” rating in a report on Monday, April 6th. Finally, Citigroup cut their price objective on Ivanhoe Mines from C$18.00 to C$13.00 and set a “buy” rating on the stock in a research report on Thursday, April 9th.

Insider Activity

In related news, Director Setha Patricia Makhesha sold 5,200 shares of the firm’s stock in a transaction dated Thursday, May 21st. The stock was sold at an average price of C$11.45, for a total transaction of C$59,540.00. Following the sale, the director directly owned 77,922 shares in the company, valued at approximately C$892,206.90. This trade represents a 6.26% decrease in their position. Insiders sold a total of 10,000 shares of company stock valued at $114,554 in the last ninety days. 44.96% of the stock is currently owned by company insiders.

Ivanhoe Mines Stock Down 1.2%

IVN opened at C$10.64 on Monday. Ivanhoe Mines has a 1 year low of C$9.45 and a 1 year high of C$20.34. The firm has a 50 day moving average price of C$11.29 and a 200 day moving average price of C$13.08. The company has a debt-to-equity ratio of 21.02, a quick ratio of 20.86 and a current ratio of 2.33. The company has a market cap of C$15.18 billion, a PE ratio of 118.22 and a beta of 1.58.

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.