Ivanhoe Mines (TSE:IVN) Insider Citic Metal Africa Investments Limited Sells 350,000 Shares

Ivanhoe Mines Ltd. (TSE:IVN) insider Citic Metal Africa Investments Limited sold 350,000 shares of the business’s stock in a transaction that occurred on Tuesday, December 30th. The stock was sold at an average price of C$15.71, for a total value of C$5,498,500.00.

Ivanhoe Mines Price Performance

TSE IVN traded down C$0.19 during mid-day trading on Wednesday, hitting C$15.64. The stock had a trading volume of 863,141 shares, compared to its average volume of 3,430,079. The firm’s 50 day moving average is C$13.95 and its 200 day moving average is C$12.80. The company has a debt-to-equity ratio of 2.48, a current ratio of 1.36 and a quick ratio of 20.86. The stock has a market capitalization of C$22.20 billion, a price-to-earnings ratio of 71.09 and a beta of 1.96. Ivanhoe Mines Ltd. has a twelve month low of C$8.76 and a twelve month high of C$18.21.

Ivanhoe Mines (TSE:IVN) last released its earnings results on Wednesday, October 29th. The company reported C$0.02 earnings per share (EPS) for the quarter. The business had revenue of C$180.18 million for the quarter. Equities research analysts forecast that Ivanhoe Mines Ltd. will post 1.0136483 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have commented on the stock. Stifel Nicolaus increased their price objective on shares of Ivanhoe Mines from C$16.00 to C$18.00 in a report on Tuesday, October 21st. Canaccord Genuity Group upped their price target on Ivanhoe Mines from C$14.00 to C$16.50 and gave the company a “buy” rating in a research report on Wednesday, October 1st. Scotiabank raised Ivanhoe Mines from a “hold” rating to an “outperform” rating and increased their price target for the company from C$12.50 to C$17.00 in a report on Monday, September 29th. Jefferies Financial Group lowered Ivanhoe Mines from a “buy” rating to a “hold” rating and lowered their price objective for the stock from C$18.00 to C$16.00 in a research note on Monday, December 8th. Finally, Citigroup upped their target price on Ivanhoe Mines from C$14.00 to C$18.00 and gave the company a “buy” rating in a report on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of C$17.25.

Ivanhoe Mines Company Profile

Ivanhoe Mines Ltd is a mineral exploration and development company. The company, together with its subsidiaries, explores, develops, and recovers minerals and precious gems from its property interests located in Africa. The group explores platinum, nickel, copper, gold, silver, cobalt, iron, vanadium, and chrome. It operates in four segments: Platreef property, Kamoa Holding joint venture, Kipushi properties, and the Company’s treasury offices.