Ivanhoe Mines Ltd. (TSE:IVN) Receives C$17.25 Average Target Price from Analysts

Shares of Ivanhoe Mines Ltd. (TSE:IVN) have earned an average rating of “Buy” from the eight brokerages that are currently covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is C$17.25.

IVN has been the topic of a number of recent analyst reports. TD Securities boosted their price objective on shares of Ivanhoe Mines from C$13.00 to C$16.00 and gave the stock a “buy” rating in a report on Monday, September 29th. Scotiabank raised Ivanhoe Mines from a “hold” rating to an “outperform” rating and lifted their target price for the stock from C$12.50 to C$17.00 in a research report on Monday, September 29th. Stifel Nicolaus boosted their price target on Ivanhoe Mines from C$16.00 to C$18.00 in a research note on Tuesday, October 21st. Citigroup raised their price objective on Ivanhoe Mines from C$14.00 to C$18.00 and gave the company a “buy” rating in a research note on Wednesday, October 8th. Finally, Jefferies Financial Group downgraded Ivanhoe Mines from a “buy” rating to a “hold” rating and dropped their price objective for the stock from C$18.00 to C$16.00 in a report on Monday, December 8th.

Ivanhoe Mines Price Performance

Shares of TSE IVN opened at C$16.04 on Thursday. The stock has a market cap of C$22.77 billion, a P/E ratio of 72.91 and a beta of 1.96. Ivanhoe Mines has a twelve month low of C$8.76 and a twelve month high of C$18.21. The stock has a 50 day moving average of C$14.02 and a two-hundred day moving average of C$12.89. The company has a current ratio of 1.36, a quick ratio of 20.86 and a debt-to-equity ratio of 2.48.

Ivanhoe Mines (TSE:IVN) last posted its quarterly earnings data on Wednesday, October 29th. The company reported C$0.02 earnings per share (EPS) for the quarter. The firm had revenue of C$180.18 million for the quarter. On average, research analysts forecast that Ivanhoe Mines will post 1.0136483 earnings per share for the current year.

Insiders Place Their Bets

In related news, insider Mark Sean Farren sold 14,300 shares of the company’s stock in a transaction on Tuesday, December 16th. The shares were sold at an average price of C$13.38, for a total value of C$191,334.00. Following the sale, the insider directly owned 270,623 shares of the company’s stock, valued at C$3,620,935.74. This represents a 5.02% decrease in their ownership of the stock. Also, insider Citic Metal Africa Investments Limited sold 350,000 shares of the stock in a transaction on Tuesday, December 30th. The shares were sold at an average price of C$15.71, for a total transaction of C$5,498,500.00. In the last 90 days, insiders sold 550,290 shares of company stock valued at $8,186,323. Insiders own 44.96% of the company’s stock.

About Ivanhoe Mines

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.