Ivanhoe Mines Ltd (IVN) Shares Down 3.1%
Ivanhoe Mines Ltd (TSE:IVN) traded down 3.1% on Friday . The stock traded as low as C$4.00 and last traded at C$4.01. 997,576 shares traded hands during mid-day trading, a decline of 29% from the average session volume of 1,406,230 shares. The stock had previously closed at C$4.14.
Several equities research analysts recently weighed in on the company. CIBC reissued a “neutral” rating and issued a C$5.00 price objective on shares of Ivanhoe Mines in a report on Friday, September 15th. Royal Bank Of Canada lifted their price objective on Ivanhoe Mines from C$4.25 to C$5.50 and gave the stock an “outperform” rating in a report on Tuesday, June 6th. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of C$6.21.
The company’s market capitalization is $3.12 billion. The company has a 50-day moving average of $4.48 and a 200 day moving average of $4.45.
In related news, Director Matthieu Bos sold 7,000 shares of the stock in a transaction that occurred on Thursday, August 24th. The stock was sold at an average price of C$4.53, for a total transaction of C$31,710.00. Also, Director Setha Patricia Makhesha sold 11,600 shares of the stock in a transaction that occurred on Tuesday, September 19th. The shares were sold at an average price of C$4.22, for a total value of C$48,952.00. In the last 90 days, insiders sold 56,500 shares of company stock valued at $245,297.
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About Ivanhoe Mines
Ivanhoe Mines Ltd. is a mineral exploration and development company. The Company focuses on exploration within the Central African Copperbelt and the Bushveld Complex. It has four segments: the Platreef property, the Kamoa property and joint venture, the Kipushi property and treasury. The segments are engaged in the exploration and development of mineral properties in South Africa, the Democratic Republic of Congo (DRC) and the restoration of a mine in the DRC, respectively.
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