Ivanhoe Mines Ltd. (TSE:IVN) Receives C$24.30 Average Price Target from Analysts

Ivanhoe Mines Ltd. (TSE:IVN) has been given an average recommendation of “Buy” by the eight ratings firms that are currently covering the stock, Marketbeat Ratings reports. Eight investment analysts have rated the stock with a buy recommendation. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is C$24.30.

A number of analysts have issued reports on the stock. Scotiabank lifted their price target on shares of Ivanhoe Mines from C$21.00 to C$22.00 and gave the company an “outperform” rating in a report on Tuesday, October 8th. Royal Bank of Canada reduced their target price on Ivanhoe Mines from C$25.00 to C$24.00 and set an “outperform” rating on the stock in a report on Tuesday, September 10th.

Ivanhoe Mines Trading Down 1.1 %

Shares of IVN opened at C$19.09 on Friday. The firm has a market cap of C$25.77 billion, a P/E ratio of 119.31 and a beta of 1.94. The company has a debt-to-equity ratio of 4.24, a current ratio of 1.17 and a quick ratio of 20.86. Ivanhoe Mines has a 1 year low of C$10.78 and a 1 year high of C$21.32. The company has a 50 day simple moving average of C$19.04 and a two-hundred day simple moving average of C$18.46.

Insider Buying and Selling at Ivanhoe Mines

In other news, Director Martie Cloete sold 2,800 shares of Ivanhoe Mines stock in a transaction on Friday, November 8th. The stock was sold at an average price of C$18.56, for a total transaction of C$51,968.00. Company insiders own 44.96% of the company’s stock.

About Ivanhoe Mines

Ivanhoe Mines Ltd. engages in the mining, development, and exploration of minerals and precious metals primarily in Africa. It explores for platinum, palladium, nickel, copper, gold, rhodium, zinc, silver, germanium, and lead deposits. The company's projects include the Platreef project located in the Northern Limb of South Africa's Bushveld Complex; the Kipushi project located in Haut-Katanga Province, Democratic Republic of Congo; and the Kamoa-Kakula project located within the Central African Copperbelt.