CIBC Raises Ivanhoe Mines (TSE:IVN) Price Target to C$4.50
Ivanhoe Mines (TSE:IVN) had its price target lifted by CIBC from C$3.40 to C$4.50 in a research report released on Monday, BayStreet.CA reports.
IVN has been the subject of several other research reports. Royal Bank of Canada reissued an average rating and set a $48.00 price objective on shares of in a research report on Thursday, June 27th. Canaccord Genuity lowered their price objective on shares of Trevali Mining from C$0.75 to C$0.65 in a research report on Monday, April 15th.
Shares of IVN stock opened at C$4.21 on Monday. The stock’s fifty day moving average is C$3.88. The company has a debt-to-equity ratio of 2.72, a current ratio of 24.96 and a quick ratio of 24.63. Ivanhoe Mines has a 12-month low of C$2.00 and a 12-month high of C$4.54. The company has a market capitalization of $4.29 billion and a P/E ratio of 113.78.
In other news, Director Elia Mikhael sold 19,900 shares of the stock in a transaction on Thursday, July 4th. The shares were sold at an average price of C$4.48, for a total transaction of C$89,152.00. Following the completion of the sale, the director now owns 282,148 shares of the company’s stock, valued at C$1,264,023.04. Also, Director Martie Cloete sold 10,800 shares of the stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of C$3.30, for a total transaction of C$35,640.00. Following the sale, the director now directly owns 377,076 shares of the company’s stock, valued at approximately C$1,244,350.80. Insiders have sold 91,616 shares of company stock valued at $357,965 in the last three months.
Ivanhoe Mines Company Profile
Ivanhoe Mines Ltd. engages in the exploration, development, and recovery of minerals and precious metals located primarily in Africa. The company explores for platinum, palladium, nickel, copper, gold, rhodium, zinc, germanium, and lead deposits. Its projects include the Platreef project located in the Northern Limb of South Africa's Bushveld Complex; the Kipushi project located on the DRC's Copperbelt; and the Kamoa-Kakula project located within the Central African Copperbelt, as well as explores Western Foreland project in the Democratic Republic of Congo.
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