Ivanhoe Mines Ltd. (TSE:IVN) Receives Consensus Recommendation of “Buy” from Brokerages

Ivanhoe Mines Ltd. (TSE:IVN) has been given an average rating of “Buy” by the eight research firms that are currently covering the firm, Marketbeat Ratings reports. Eight research analysts have rated the stock with a buy recommendation. The average 1 year price target among analysts that have issued ratings on the stock in the last year is C$24.30.

IVN has been the subject of several research reports. Royal Bank of Canada reduced their target price on shares of Ivanhoe Mines from C$25.00 to C$24.00 and set an “outperform” rating for the company in a research note on Tuesday, September 10th. Scotiabank raised their price objective on Ivanhoe Mines from C$21.00 to C$22.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 8th.

Ivanhoe Mines Price Performance

Shares of Ivanhoe Mines stock opened at C$17.42 on Monday. The company has a debt-to-equity ratio of 4.24, a current ratio of 1.17 and a quick ratio of 20.86. The company has a market cap of C$23.52 billion, a PE ratio of 108.88 and a beta of 1.94. The firm has a fifty day moving average price of C$18.41 and a two-hundred day moving average price of C$18.19. Ivanhoe Mines has a fifty-two week low of C$12.92 and a fifty-two week high of C$21.32.

Insider Transactions at Ivanhoe Mines

In other news, Director Martie Cloete sold 2,800 shares of the company’s stock in a transaction dated Friday, November 8th. The shares were sold at an average price of C$18.56, for a total value of C$51,968.00. Also, Director Jinghe Chen sold 60,288 shares of Ivanhoe Mines stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of C$19.00, for a total transaction of C$1,145,472.00. In the last ninety days, insiders sold 68,088 shares of company stock valued at $1,292,379. Corporate insiders own 44.96% of the company’s stock.

About Ivanhoe Mines

Ivanhoe Mines Ltd. engages in the mining, development, and exploration of minerals and precious metals primarily in Africa. It explores for platinum, palladium, nickel, copper, gold, rhodium, zinc, silver, germanium, and lead deposits. The company's projects include the Platreef project located in the Northern Limb of South Africa's Bushveld Complex; the Kipushi project located in Haut-Katanga Province, Democratic Republic of Congo; and the Kamoa-Kakula project located within the Central African Copperbelt.