Ivanhoe Mines Ltd. (TSE:IVN) Given Consensus Rating of “Buy” by Brokerages

Ivanhoe Mines Ltd. (TSE:IVN) has received an average recommendation of “Buy” from the nine brokerages that are presently covering the company, MarketBeat.com reports. Nine investment analysts have rated the stock with a buy rating. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is C$24.00.

A number of brokerages have weighed in on IVN. Citigroup lifted their price target on shares of Ivanhoe Mines from C$15.00 to C$24.00 and gave the company a “buy” rating in a report on Thursday, June 20th. TD Securities raised their price objective on Ivanhoe Mines from C$23.00 to C$25.00 in a report on Monday, July 22nd. Canaccord Genuity Group boosted their target price on Ivanhoe Mines from C$24.00 to C$25.00 in a report on Monday, July 22nd. Scotiabank dropped their price objective on shares of Ivanhoe Mines from C$23.00 to C$21.00 in a research report on Monday, August 19th. Finally, Raymond James boosted 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 research report on Thursday, May 23rd.

Insider Buying and Selling

In other Ivanhoe Mines news, Director Delphine Traoré acquired 5,704 shares of the stock in a transaction that occurred on Monday, June 17th. The stock was acquired at an average price of C$17.40 per share, with a total value of C$99,249.60. In other Ivanhoe Mines news, insider CITIC Metal Africa Investments Limited sold 248,314 shares of the business’s stock in a transaction dated Thursday, June 13th. The shares were sold at an average price of C$17.32, for a total transaction of C$4,300,723.99. Also, Director Delphine Traoré bought 5,704 shares of the firm’s stock in a transaction on Monday, June 17th. The stock was purchased at an average price of C$17.40 per share, with a total value of C$99,249.60. Insiders have sold 12,064,614 shares of company stock worth $210,024,706 over the last ninety days. 45.03% of the stock is owned by insiders.

Ivanhoe Mines Price Performance

The firm has a market capitalization of C$24.26 billion, a price-to-earnings ratio of 112.31 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 has a 52-week low of C$9.89 and a 52-week high of C$21.32. The firm has a fifty day moving average price of C$17.76 and a 200 day moving average price of C$17.60.

Ivanhoe Mines (TSE:IVN) last posted its quarterly earnings data on Wednesday, July 31st. The company reported C$0.08 EPS for the quarter, beating analysts’ consensus estimates of C$0.07 by C$0.01. As a group, sell-side analysts expect that Ivanhoe Mines will post 0.5874016 earnings per share for the current fiscal year.

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.