Analysts Set Ivanhoe Mines Ltd. (TSE:IVN) PT at C$14.24

Ivanhoe Mines Ltd. (TSE:IVN) has been given a consensus recommendation of “Moderate Buy” by the nine brokerages that are covering the stock, MarketBeat.com reports. Four research analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is C$14.41.

Several equities analysts recently weighed in on the stock. Morgan Stanley raised shares of Ivanhoe Mines from an “equal weight” rating to an “overweight” rating and raised their target price for the company from C$12.00 to C$13.20 in a research note on Wednesday, July 8th. Canaccord Genuity Group raised shares of Ivanhoe Mines from a “hold” rating to a “buy” rating and upped their price target for the stock from C$12.00 to C$13.00 in a research report on Tuesday, July 21st. BMO Capital Markets cut their price target on shares of Ivanhoe Mines from C$23.00 to C$16.00 in a research note on Wednesday, April 1st. Scotiabank lifted their price objective on shares of Ivanhoe Mines from C$13.00 to C$13.50 and gave the company a “sector perform” rating in a research report on Monday, June 15th. Finally, Citigroup lowered their price objective on shares of Ivanhoe Mines from C$18.00 to C$13.00 and set a “buy” rating on the stock in a research note on Thursday, April 9th.

Insider Activity at Ivanhoe Mines

In related news, Director Setha Patricia Makhesha sold 5,200 shares of the business’s stock in a transaction that occurred on Thursday, May 21st. The stock was sold at an average price of C$11.45, for a total value of C$59,540.00. Following the completion of the sale, the director directly owned 77,922 shares in the company, valued at approximately C$892,206.90. The trade was a 6.26% decrease in their ownership of the stock. Insiders have sold 10,000 shares of company stock valued at $114,554 in the last 90 days. Corporate insiders own 44.96% of the company’s stock.

Ivanhoe Mines Price Performance

Shares of TSE IVN opened at C$10.61 on Monday. The firm has a market cap of C$15.13 billion, a PE ratio of 117.89 and a beta of 1.58. The company has a current ratio of 2.33, a quick ratio of 20.86 and a debt-to-equity ratio of 21.02. Ivanhoe Mines has a 1-year low of C$9.45 and a 1-year high of C$20.34. The company has a fifty day moving average price of C$11.23 and a 200 day moving average price of C$13.00.

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.