Insider Selling: Ivanhoe Mines Ltd. (TSE:IVN) Director Sells 1,000 Shares of Stock

Ivanhoe Mines Ltd. (TSE:IVN) Director Peter Meredith sold 1,000 shares of the company’s stock in a transaction dated Friday, June 21st. The shares were sold at an average price of C$17.40, for a total transaction of C$17,400.00.

Peter Meredith also recently made the following trade(s):

• On Wednesday, June 19th, Peter Meredith sold 700 shares of Ivanhoe Mines stock. The shares were sold at an average price of C$17.55, for a total transaction of C$12,285.00.

Ivanhoe Mines Stock Performance

IVN traded up C$0.35 during trading on Monday, hitting C$17.59. The company’s stock had a trading volume of 77,438 shares, compared to its average volume of 2,320,765. The firm has a market cap of C$22.34 billion, a PE ratio of 90.74 and a beta of 1.98. Ivanhoe Mines Ltd. has a one year low of C$9.89 and a one year high of C$21.32. The business’s 50 day simple moving average is C$19.09 and its 200-day simple moving average is C$16.05. The company has a quick ratio of 20.86, a current ratio of 0.42 and a debt-to-equity ratio of 18.77.

Ivanhoe Mines (TSE:IVN) last announced its quarterly earnings data on Tuesday, April 30th. The company reported C($0.07) EPS for the quarter, missing the consensus estimate of C($0.01) by C($0.06). As a group, sell-side analysts predict that Ivanhoe Mines Ltd. will post 0.4653228 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have issued reports on IVN shares. Bank of America upped their price target on shares of Ivanhoe Mines from C$15.50 to C$21.00 in a research report on Tuesday, April 9th. TD Securities increased their price target on shares of Ivanhoe Mines from C$17.00 to C$17.50 and gave the company a “buy” rating in a report on Wednesday, February 28th. Scotiabank raised their target price on shares of Ivanhoe Mines from C$19.00 to C$23.00 and gave the stock an “outperform” rating in a report on Thursday, May 30th. Raymond James raised their target price on shares of Ivanhoe Mines from C$21.00 to C$24.00 and gave the stock an “outperform” rating in a report on Thursday, May 23rd. Finally, Jefferies Financial Group set a C$25.00 target price on shares of Ivanhoe Mines and gave the stock a “buy” rating in a report on Friday, May 3rd. Nine research analysts have rated the stock with a buy rating, According to MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of C$23.25.

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.