Peter Meredith Sells 13,459 Shares of Ivanhoe Mines (TSE:IVN) Stock

Ivanhoe Mines Ltd. (TSE:IVN) Director Peter Meredith sold 13,459 shares of the company’s stock in a transaction that occurred on Tuesday, January 13th. The shares were sold at an average price of C$16.43, for a total value of C$221,131.37. Following the sale, the director owned 841,256 shares in the company, valued at approximately C$13,821,836.08. This trade represents a 1.57% decrease in their ownership of the stock.

Peter Meredith also recently made the following trade(s):

• On Tuesday, January 13th, Peter Meredith sold 1,100 shares of Ivanhoe Mines stock. The shares were sold at an average price of C$16.44, for a total value of C$18,084.00.
• On Tuesday, January 13th, Peter Meredith sold 500 shares of Ivanhoe Mines stock. The shares were sold at an average price of C$16.44, for a total value of C$8,220.00.
• On Tuesday, January 13th, Peter Meredith sold 1,500 shares of Ivanhoe Mines stock. The stock was sold at an average price of C$16.46, for a total value of C$24,690.00.

Ivanhoe Mines Trading Up 0.9%

TSE IVN traded up C$0.15 on Wednesday, hitting C$16.74. 1,595,449 shares of the stock were exchanged, compared to its average volume of 2,798,140. The company has a debt-to-equity ratio of 2.48, a quick ratio of 20.86 and a current ratio of 1.36. Ivanhoe Mines Ltd. has a 52-week low of C$8.76 and a 52-week high of C$17.47. The firm has a market capitalization of C$23.76 billion, a P/E ratio of 76.09 and a beta of 1.96. The stock has a fifty day moving average price of C$14.35 and a two-hundred day moving average price of C$13.21.

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

Analysts Set New Price Targets

IVN has been the subject of several recent analyst reports. Canaccord Genuity Group boosted their target price 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. TD Securities raised their price target on Ivanhoe Mines from C$13.00 to C$16.00 and gave the stock a “buy” rating in a research note on Monday, September 29th. Jefferies Financial Group cut Ivanhoe Mines from a “buy” rating to a “hold” rating and dropped their price objective for the company from C$18.00 to C$16.00 in a report on Monday, December 8th. Citigroup increased their target price on Ivanhoe Mines from C$14.00 to C$18.00 and gave the stock a “buy” rating in a research note on Wednesday, October 8th. Finally, Scotiabank lifted their target price on Ivanhoe Mines from C$18.50 to C$20.00 and gave the stock an “outperform” rating in a research report on Thursday, January 8th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Buy” and an average target price of C$17.55.

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.