Ivanhoe Mines Ltd. (TSE:IVN) Receives Average Recommendation of “Buy” from Analysts

Shares of Ivanhoe Mines Ltd. (TSE:IVN) have been assigned an average recommendation of “Buy” from the eight analysts that are currently covering the stock, Marketbeat.com reports. Eight equities research analysts have rated the stock with a buy rating. The average 12-month price objective among analysts that have issued a report on the stock in the last year is C$24.30.

A number of equities analysts have recently issued reports on the stock. Scotiabank upped 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 reduced their price objective on Ivanhoe Mines from C$25.00 to C$24.00 and set an “outperform” rating on the stock in a report on Tuesday, September 10th.

Insider Buying and Selling at Ivanhoe Mines

In other news, Senior Officer Chao (Peter) Zhou sold 4,800 shares of the business’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of C$19.00, for a total transaction of C$91,200.00. Also, Director Martie Cloete sold 2,800 shares of the stock in a transaction that occurred 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. Over the last ninety days, insiders have sold 68,088 shares of company stock valued at $1,292,379. 44.96% of the stock is currently owned by insiders.

Ivanhoe Mines Stock Up 1.1 %

Shares of TSE:IVN opened at C$17.42 on Monday. The company has a quick ratio of 20.86, a current ratio of 1.17 and a debt-to-equity ratio of 4.24. The firm has a market cap of C$23.52 billion, a P/E ratio of 108.88 and a beta of 1.94. Ivanhoe Mines has a 12 month low of C$12.92 and a 12 month high of C$21.32. The company’s 50-day moving average price is C$18.41 and its two-hundred day moving average price is C$18.19.

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.