Ivanhoe Mines (IVN) Stock Price Down 1.3%
Shares of Ivanhoe Mines Ltd. (TSE:IVN) were down 1.3% on Wednesday . The company traded as low as C$4.53 and last traded at C$4.53. Approximately 1,089,745 shares changed hands during mid-day trading, a decline of 54% from the average daily volume of 2,354,474 shares. The stock had previously closed at C$4.59.
A number of equities analysts recently issued reports on IVN shares. BMO Capital Markets boosted their target price on shares of Ivanhoe Mines from C$7.00 to C$8.00 and gave the stock an “outperform” rating in a research report on Monday, October 30th. CIBC reaffirmed a “neutral” rating and set a C$5.00 target price on shares of Ivanhoe Mines in a research report on Friday, September 15th. TD Securities reaffirmed a “speculative buy” rating and set a C$7.50 target price on shares of Ivanhoe Mines in a research report on Monday, November 13th. Raymond James Financial boosted their target price on shares of Ivanhoe Mines from C$6.00 to C$6.50 and gave the stock an “outperform” rating in a research report on Wednesday. Finally, Canaccord Genuity boosted their target price on shares of Ivanhoe Mines from C$6.50 to C$7.75 in a research report on Wednesday. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of C$6.97.
In other Ivanhoe Mines news, Director Setha Patricia Makhesha sold 25,000 shares of the business’s stock in a transaction on Monday, September 18th. The shares were sold at an average price of C$4.21, for a total value of C$105,250.00. Insiders have sold 49,500 shares of company stock worth $213,587 in the last ninety days.
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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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