Brokerages Set Ivanhoe Mines Ltd. (TSE:IVN) PT at C$24.30

Ivanhoe Mines Ltd. (TSE:IVN) has earned a consensus recommendation of “Buy” from the eight ratings firms that are currently covering the company, MarketBeat Ratings reports. Eight investment analysts have rated the stock with a buy recommendation. The average 1 year target price among analysts that have issued a report on the stock in the last year is C$24.30.

Several brokerages have recently commented on IVN. Royal Bank of Canada lowered their target price on shares of 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. Scotiabank increased their price target 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.

Insider Transactions at Ivanhoe Mines

In related news, Senior Officer Chao (Peter) Zhou sold 4,800 shares of the stock in a transaction on Monday, November 25th. The stock was sold at an average price of C$19.00, for a total value of C$91,200.00. Also, 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. Over the last ninety days, insiders sold 68,088 shares of company stock worth $1,292,379. Corporate insiders own 44.96% of the company’s stock.

Ivanhoe Mines Stock Performance

The company has a debt-to-equity ratio of 4.24, a quick ratio of 20.86 and a current ratio of 1.17. The company has a 50-day simple moving average of C$19.05 and a 200-day simple moving average of C$18.37. Ivanhoe Mines has a 52-week low of C$12.51 and a 52-week high of C$21.32. The company has a market capitalization of C$24.48 billion, a PE ratio of 113.31 and a beta of 1.94.

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.