Raymond James Lowers Ivanhoe Mines (TSE:IVN) Price Target to C$24.00

Ivanhoe Mines (TSE:IVN) had its price objective reduced by stock analysts at Raymond James from C$25.00 to C$24.00 in a research report issued to clients and investors on Thursday,BayStreet.CA reports. The firm presently has an “outperform” rating on the stock. Raymond James’ price objective would indicate a potential upside of 39.53% from the company’s previous close.

Several other equities research analysts have also recently commented on IVN. Scotiabank boosted their target price on Ivanhoe Mines from C$21.00 to C$22.00 and gave the company an “outperform” rating in a research note on Tuesday, October 8th. TD Securities decreased their price objective on shares of Ivanhoe Mines from C$25.00 to C$24.00 and set a “buy” rating on the stock in a report on Thursday. Eight investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of C$24.00.

Ivanhoe Mines Trading Up 1.7 %

IVN traded up C$0.28 during mid-day trading on Thursday, hitting C$17.20. The stock had a trading volume of 485,183 shares, compared to its average volume of 1,187,983. The firm has a market capitalization of C$23.22 billion, a price-to-earnings ratio of 107.50 and a beta of 1.94. Ivanhoe Mines has a 1-year low of C$12.94 and a 1-year high of C$21.32. The company has a debt-to-equity ratio of 4.24, a current ratio of 1.17 and a quick ratio of 20.86. The stock’s fifty day simple moving average is C$18.30 and its 200-day simple moving average is C$18.19.

Insider Activity

In other news, Senior Officer Chao (Peter) Zhou sold 4,800 shares of Ivanhoe Mines stock in a transaction dated Monday, November 25th. The shares were sold at an average price of C$19.00, for a total value of C$91,200.00. Also, Director Jinghe Chen sold 60,288 shares of the stock in a transaction on Thursday, November 21st. The stock was sold at an average price of C$19.00, for a total value of C$1,145,472.00. Insiders sold a total of 68,088 shares of company stock valued at $1,292,379 over the last three months. Corporate 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.