Ivanhoe Mines Ltd. (TSE:IVN) Receives C$17.25 Average Price Target from Brokerages

Ivanhoe Mines Ltd. (TSE:IVN) has been assigned an average recommendation of “Buy” from the eight analysts that are presently covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a hold recommendation, six have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is C$17.25.

A number of research analysts recently commented on IVN shares. Citigroup boosted their price target on Ivanhoe Mines from C$14.00 to C$18.00 and gave the stock a “buy” rating in a report on Wednesday, October 8th. TD Securities lifted their price objective on shares of Ivanhoe Mines from C$13.00 to C$16.00 and gave the company a “buy” rating in a research report on Monday, September 29th. Scotiabank raised shares of Ivanhoe Mines from a “hold” rating to an “outperform” rating and boosted their target price for the stock from C$12.50 to C$17.00 in a report on Monday, September 29th. Jefferies Financial Group lowered shares of Ivanhoe Mines from a “buy” rating to a “hold” rating and dropped their target price for the stock from C$18.00 to C$16.00 in a research report on Monday, December 8th. Finally, Canaccord Genuity Group lifted their price target on shares of Ivanhoe Mines from C$14.00 to C$16.50 and gave the company a “buy” rating in a report on Wednesday, October 1st.

Insider Transactions at Ivanhoe Mines

In other news, insider Mark Sean Farren sold 60,000 shares of Ivanhoe Mines stock in a transaction dated Tuesday, December 16th. The stock was sold at an average price of C$13.40, for a total value of C$804,000.00. Following the sale, the insider directly owned 174,923 shares of the company’s stock, valued at approximately C$2,343,968.20. The trade was a 25.54% decrease in their ownership of the stock. Also, 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 value of C$5,498,500.00. In the last 90 days, insiders have sold 550,290 shares of company stock valued at $8,186,323. Company insiders own 44.96% of the company’s stock.

Ivanhoe Mines Price Performance

TSE IVN opened at C$16.61 on Thursday. The company has a 50-day moving average price of C$14.07 and a 200-day moving average price of C$12.95. Ivanhoe Mines has a 52 week low of C$8.76 and a 52 week high of C$18.21. The company has a quick ratio of 20.86, a current ratio of 1.36 and a debt-to-equity ratio of 2.48. The firm has a market capitalization of C$23.58 billion, a P/E ratio of 75.50 and a beta of 1.96.

Ivanhoe Mines (TSE:IVN) last released its quarterly earnings results on Wednesday, October 29th. The company reported C$0.02 earnings per share (EPS) for the quarter. The company had revenue of C$180.18 million for the quarter. Equities research analysts anticipate that Ivanhoe Mines will post 1.0136483 earnings per share for the current year.

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.