Ivanhoe Mines (IVN) Trading Down 0.7%
Shares of Ivanhoe Mines Ltd (TSE:IVN) dropped 0.7% on Friday . The stock traded as low as C$4.36 and last traded at C$4.39. Approximately 1,210,661 shares were traded during trading, a decline of 46% from the average daily volume of 2,258,335 shares. The stock had previously closed at C$4.42.
IVN has been the subject of several recent analyst reports. CIBC reaffirmed a “neutral” rating and set a C$5.00 price objective on shares of Ivanhoe Mines in a report on Friday, September 15th. Canaccord Genuity raised their price target on shares of Ivanhoe Mines from C$6.50 to C$7.75 in a report on Wednesday, November 29th. BMO Capital Markets raised their price target on shares of Ivanhoe Mines from C$7.00 to C$8.00 and gave the company an “outperform” rating in a report on Monday, October 30th. TD Securities reissued a “speculative buy” rating and issued a C$7.50 price target on shares of Ivanhoe Mines in a report on Monday, November 13th. Finally, Raymond James Financial raised their price target on shares of Ivanhoe Mines from C$6.00 to C$6.50 and gave the company an “outperform” rating in a report on Wednesday, November 29th. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of C$6.54.
The stock has a market capitalization of $3,430.00, a price-to-earnings ratio of -70.42 and a beta of 0.89.
In related news, Director Setha Patricia Makhesha sold 40,000 shares of the firm’s stock in a transaction that occurred on Monday, December 18th. The shares were sold at an average price of C$4.13, for a total value of C$165,200.00.
About Ivanhoe Mines
Ivanhoe Mines Ltd. is a mineral exploration and development company. The Company focuses on exploration within the Central African Copperbelt and the Bushveld Complex. It has four segments: the Platreef property, the Kamoa property and joint venture, the Kipushi property and treasury. The segments are engaged in the exploration and development of mineral properties in South Africa, the Democratic Republic of Congo (DRC) and the restoration of a mine in the DRC, respectively.
Receive News & Ratings for Ivanhoe Mines Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ivanhoe Mines and related companies with Analyst Ratings Network's FREE daily email newsletter.