Shares of Ivanhoe Mines Ltd. (TSE:IVN – Get Free Report) crossed below its 50-day moving average during trading on Monday . The stock has a 50-day moving average of C$18.92 and traded as low as C$17.60. Ivanhoe Mines shares last traded at C$17.65, with a volume of 2,214,165 shares traded.
Analyst Ratings Changes
A number of research firms have issued reports on IVN. Scotiabank increased 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 research report on Thursday, May 30th. 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. BMO Capital Markets boosted their target price 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 target on Ivanhoe Mines and gave the stock a “buy” rating in a research note on Friday, May 3rd. Finally, Citigroup boosted their price target on Ivanhoe Mines from C$15.00 to C$24.00 and gave the company a “buy” rating in a research note on Thursday, June 20th. Nine investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Ivanhoe Mines has a consensus rating of “Buy” and an average target price of C$23.25.
Read Our Latest Research Report on Ivanhoe Mines
Ivanhoe Mines Stock Performance
Ivanhoe Mines (TSE:IVN – Get Free Report) last posted its quarterly earnings results on Tuesday, April 30th. The company reported C($0.07) earnings per share (EPS) for the quarter, missing the consensus estimate of C($0.01) by C($0.06). On average, analysts expect that Ivanhoe Mines Ltd. will post 0.4653228 EPS for the current year.
Insider Activity at Ivanhoe Mines
In related news, Director Delphine Traoré acquired 5,704 shares of the company’s stock in a transaction that occurred on Monday, June 17th. The shares were acquired at an average cost of C$17.40 per share, for a total transaction of C$99,249.60. In other news, Director Delphine Traoré bought 5,704 shares of the stock in a transaction that occurred on Monday, June 17th. The shares were acquired at an average cost of C$17.40 per share, for a total transaction of C$99,249.60. Also, insider CITIC Metal Africa Investments Limited sold 11,810,800 shares of the business’s stock in a transaction that occurred on Monday, June 17th. The stock was sold at an average price of C$17.41, for a total value of C$205,626,028.00. In the last three months, insiders sold 12,064,614 shares of company stock worth $210,024,706. 50.86% of the stock is owned by company insiders.
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.
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