Ivanhoe Mines Ltd. (TSE:IVN) Given Average Recommendation of “Buy” by Analysts

Ivanhoe Mines Ltd. (TSE:IVN) has received a consensus recommendation of “Buy” from the eight analysts that are covering the firm, Marketbeat Ratings reports. Eight investment analysts have rated the stock with a buy recommendation. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is C$24.30.

Several analysts have recently weighed in on IVN shares. Scotiabank lifted their price target on shares of Ivanhoe Mines from C$21.00 to C$22.00 and gave the company an “outperform” rating in a research note on Tuesday, October 8th. Canaccord Genuity Group upped their target price on Ivanhoe Mines from C$24.00 to C$25.00 in a report on Monday, July 22nd. Royal Bank of Canada dropped their price target on Ivanhoe Mines from C$25.00 to C$24.00 and set an “outperform” rating on the stock in a research report on Tuesday, September 10th. Finally, TD Securities lifted their price objective on Ivanhoe Mines from C$23.00 to C$25.00 in a report on Monday, July 22nd.

Insider Activity

In other news, Director Martie Cloete sold 2,800 shares of the firm’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. Company insiders own 44.96% of the company’s stock.

Ivanhoe Mines Trading Up 0.6 %

Shares of IVN opened at C$17.71 on Friday. The firm has a market capitalization of C$23.91 billion, a price-to-earnings ratio of 110.69 and a beta of 1.94. The company has a debt-to-equity ratio of 4.24, a current ratio of 1.17 and a quick ratio of 20.86. Ivanhoe Mines has a 1-year low of C$10.67 and a 1-year high of C$21.32. The company has a 50-day moving average of C$18.79 and a 200 day moving average of C$18.47.

Ivanhoe Mines Company Profile

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.