Ivanhoe Mines Ltd. (TSE:IVN) Director Peter Meredith Sells 700 Shares of Stock

Ivanhoe Mines Ltd. (TSE:IVN) Director Peter Meredith sold 700 shares of the company’s stock in a transaction that occurred on Wednesday, June 19th. The stock was sold at an average price of C$17.55, for a total transaction of C$12,285.00.

Ivanhoe Mines Stock Performance

Shares of IVN stock opened at C$17.98 on Friday. The stock’s 50-day moving average is C$19.11 and its two-hundred day moving average is C$15.96. The company has a debt-to-equity ratio of 18.77, a quick ratio of 20.86 and a current ratio of 0.42. Ivanhoe Mines Ltd. has a 1 year low of C$9.89 and a 1 year high of C$21.32. The firm has a market cap of C$22.83 billion, a price-to-earnings ratio of 94.63 and a beta of 1.98.

Ivanhoe Mines (TSE:IVN) last announced its earnings results on Tuesday, April 30th. The company reported C($0.07) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of C($0.01) by C($0.06). Analysts predict that Ivanhoe Mines Ltd. will post 0.4653228 earnings per share for the current year.

Wall Street Analysts Forecast Growth

IVN has been the subject of several analyst reports. Citigroup boosted their price target on shares of Ivanhoe Mines from C$15.00 to C$24.00 and gave the stock a “buy” rating in a report on Thursday. Canaccord Genuity Group increased their target price on Ivanhoe Mines from C$22.00 to C$24.00 and gave the company a “buy” rating in a report on Monday, May 13th. BMO Capital Markets raised their price target on Ivanhoe Mines from C$18.00 to C$22.00 and gave the company an “outperform” rating in a research note on Wednesday, May 1st. Jefferies Financial Group set a C$25.00 price objective on Ivanhoe Mines and gave the stock a “buy” rating in a research report on Friday, May 3rd. Finally, Bank of America increased their price objective on Ivanhoe Mines from C$15.50 to C$21.00 in a report on Tuesday, April 9th. Nine equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of C$23.25.

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.