Analysts Set Ivanhoe Mines Ltd. (TSE:IVN) PT at C$24.30

Shares of Ivanhoe Mines Ltd. (TSE:IVN) have earned an average rating of “Buy” from the eight brokerages that are currently covering the company, MarketBeat reports. Eight analysts have rated the stock with a buy recommendation. The average twelve-month price target among analysts that have covered the stock in the last year is C$24.30.

Several equities research analysts recently issued reports on the stock. Scotiabank raised their target price on shares of Ivanhoe Mines from C$21.00 to C$22.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 8th. Royal Bank of Canada cut their target price on Ivanhoe Mines from C$25.00 to C$24.00 and set an “outperform” rating on the stock in a research report on Tuesday, September 10th.

Insiders Place Their Bets

In other news, Director Martie Cloete sold 2,800 shares of the business’s stock in a transaction on Friday, November 8th. The shares were sold at an average price of C$18.56, for a total transaction of C$51,968.00. Also, Director Jinghe Chen sold 60,288 shares of the company’s stock in a transaction on Thursday, November 21st. The shares were sold at an average price of C$19.00, for a total transaction of C$1,145,472.00. Insiders have sold a total of 68,088 shares of company stock worth $1,292,379 over the last quarter. 44.96% of the stock is owned by corporate insiders.

Ivanhoe Mines Stock Down 4.4 %

Shares of TSE:IVN opened at C$16.87 on Thursday. The company has a current ratio of 1.17, a quick ratio of 20.86 and a debt-to-equity ratio of 4.24. The firm has a market cap of C$22.77 billion, a price-to-earnings ratio of 105.44 and a beta of 1.94. The stock’s 50-day moving average price is C$18.89 and its two-hundred day moving average price is C$18.33. Ivanhoe Mines has a 12-month low of C$12.51 and a 12-month high of C$21.32.

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.