Analysts Set Ivanhoe Mines Ltd. (TSE:IVN) Target Price at C$24.00

Shares of Ivanhoe Mines Ltd. (TSE:IVN) have earned an average recommendation of “Buy” from the nine ratings firms that are covering the firm, MarketBeat.com reports. Nine investment analysts have rated the stock with a buy rating. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is C$24.00.

A number of equities analysts have recently commented on IVN shares. Canaccord Genuity Group raised their price target on Ivanhoe Mines from C$24.00 to C$25.00 in a report on Monday, July 22nd. Jefferies Financial Group raised their price target on Ivanhoe Mines from C$25.00 to C$26.00 in a report on Friday, July 12th. TD Securities raised their price target on Ivanhoe Mines from C$23.00 to C$25.00 in a report on Monday, July 22nd. Citigroup raised their price target on Ivanhoe Mines from C$15.00 to C$24.00 and gave the stock a “buy” rating in a report on Thursday, June 20th. Finally, Scotiabank cut their price target on Ivanhoe Mines from C$23.00 to C$21.00 in a report on Monday, August 19th.

Insider Buying and Selling

In related news, Senior Officer Mary Vincelli sold 3,600 shares of the stock in a transaction on Thursday, June 20th. The stock was sold at an average price of C$17.96, for a total value of C$64,639.80. In other news, Director Delphine Traoré purchased 5,704 shares of the stock in a transaction on Monday, June 17th. The shares were acquired at an average price of C$17.40 per share, for a total transaction of C$99,249.60. Also, Senior Officer Mary Vincelli sold 3,600 shares of the firm’s stock in a transaction dated Thursday, June 20th. The shares were sold at an average price of C$17.96, for a total value of C$64,639.80. Over the last quarter, insiders have sold 12,064,414 shares of company stock worth $210,021,077. Corporate insiders own 45.03% of the company’s stock.

Ivanhoe Mines Stock Performance

The firm’s fifty day moving average price is C$17.64 and its two-hundred day moving average price is C$17.65. Ivanhoe Mines has a twelve month low of C$9.89 and a twelve month high of C$21.32. The company has a market capitalization of C$21.25 billion, a price-to-earnings ratio of 98.38 and a beta of 1.93. The company has a current ratio of 1.17, a quick ratio of 20.86 and a debt-to-equity ratio of 4.24.

Ivanhoe Mines (TSE:IVN) last announced its quarterly earnings data on Wednesday, July 31st. The company reported C$0.08 earnings per share for the quarter, beating the consensus estimate of C$0.07 by C$0.01. Analysts forecast that Ivanhoe Mines will post 1.034134 EPS for the current year.

Ivanhoe Mines Company Profile

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.