Ivanhoe Mines Ltd. (TSE:IVN) Receives C$24.30 Average Target Price from Brokerages

Ivanhoe Mines Ltd. (TSE:IVN) has been assigned a consensus recommendation of “Buy” from the eight ratings firms that are presently covering the firm, Marketbeat.com reports. Eight research analysts have rated the stock with a buy recommendation. The average 1-year price target among brokerages that have issued a report on the stock in the last year is C$24.30.

Several research firms have recently weighed in on IVN. Royal Bank of Canada lowered their price objective on shares of Ivanhoe Mines from C$25.00 to C$24.00 and set an “outperform” rating on the stock in a research note on Tuesday, September 10th. Scotiabank upped their price objective on Ivanhoe Mines from C$21.00 to C$22.00 and gave the company an “outperform” rating in a research note on Tuesday, October 8th.

Ivanhoe Mines Stock Up 3.1 %

Ivanhoe Mines stock opened at C$19.30 on Friday. 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 1-year low of C$10.78 and a 1-year high of C$21.32. The company has a fifty day simple moving average of C$18.94 and a 200 day simple moving average of C$18.46. The company has a market cap of C$26.06 billion, a P/E ratio of 117.00 and a beta of 1.94.

Insider Buying and Selling at Ivanhoe Mines

In other news, Director Martie Cloete sold 2,800 shares of the firm’s stock in a transaction on Friday, November 8th. The stock was sold at an average price of C$18.56, for a total value of C$51,968.00. Corporate insiders own 44.96% of the company’s stock.

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.