Ivanhoe Mines Ltd. (TSE:IVN) Receives C$17.55 Consensus Target Price from Analysts

Ivanhoe Mines Ltd. (TSE:IVN) has earned a consensus recommendation of “Moderate Buy” from the seven brokerages that are currently covering the firm, Marketbeat reports. One research analyst has rated the stock with a hold rating and six have issued a buy rating on the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is C$17.55.

A number of analysts recently issued reports on IVN shares. Stifel Nicolaus raised their price target on Ivanhoe Mines from C$16.00 to C$18.00 in a research report on Tuesday, October 21st. Jefferies Financial Group lowered shares of Ivanhoe Mines from a “buy” rating to a “hold” rating and lowered their target price for the stock from C$18.00 to C$16.00 in a report on Monday, December 8th. Citigroup upped their price target on shares of Ivanhoe Mines from C$14.00 to C$18.00 and gave the company a “buy” rating in a report on Wednesday, October 8th. Scotiabank raised their price objective on shares of Ivanhoe Mines from C$18.50 to C$20.00 and gave the stock an “outperform” rating in a research note on Thursday, January 8th. Finally, Canaccord Genuity Group upped their target price on Ivanhoe Mines from C$14.00 to C$16.50 and gave the company a “buy” rating in a research note on Wednesday, October 1st.

Insiders Place Their Bets

In other news, insider Citic Metal Africa Investments Limited sold 350,000 shares of Ivanhoe Mines stock in a transaction on Tuesday, December 30th. The stock was sold at an average price of C$15.71, for a total transaction of C$5,498,500.00. Also, insider Mark Sean Farren sold 14,300 shares of the business’s stock in a transaction on Tuesday, December 16th. The shares were sold at an average price of C$13.38, for a total transaction of C$191,334.00. Following the sale, the insider directly owned 270,623 shares of the company’s stock, valued at C$3,620,935.74. This represents a 5.02% decrease in their ownership of the stock. Insiders have sold a total of 566,849 shares of company stock worth $8,458,448 over the last quarter. Company insiders own 44.96% of the company’s stock.

Ivanhoe Mines Stock Up 2.0%

Shares of TSE:IVN opened at C$18.81 on Monday. The company has a market cap of C$26.70 billion, a price-to-earnings ratio of 85.50 and a beta of 1.96. Ivanhoe Mines has a 12 month low of C$8.76 and a 12 month high of C$19.57. The company has a current ratio of 1.36, a quick ratio of 20.86 and a debt-to-equity ratio of 2.48. The company has a 50-day moving average price of C$15.26 and a 200 day moving average price of C$13.69.

Ivanhoe Mines (TSE:IVN) last issued its quarterly earnings data on Wednesday, October 29th. The company reported C$0.02 earnings per share for the quarter. The company had revenue of C$180.18 million for the quarter. As a group, equities research analysts predict that Ivanhoe Mines will post 1.0136483 earnings per share for the current year.

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.