TD Securities Issues Pessimistic Forecast for Ivanhoe Mines (TSE:IVN) Stock Price

Ivanhoe Mines (TSE:IVN) had its target price reduced by TD Securities from C$25.00 to C$24.00 in a note issued to investors on Thursday,BayStreet.CA reports. The firm presently has a “buy” rating on the stock. TD Securities’ price objective would indicate a potential upside of 38.97% from the company’s current price.

Separately, Scotiabank increased their price objective on shares of Ivanhoe Mines from C$21.00 to C$22.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 8th. Eight equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, Ivanhoe Mines has an average rating of “Buy” and a consensus price target of C$24.00.

Ivanhoe Mines Trading Up 0.5 %

Shares of TSE:IVN opened at C$17.27 on Thursday. The business has a 50-day moving average price of C$18.21 and a 200-day moving average price of C$18.18. The stock has a market cap of C$23.31 billion, a price-to-earnings ratio of 107.94 and a beta of 1.94. Ivanhoe Mines has a 52-week low of C$12.94 and a 52-week high of C$21.32. The company has a quick ratio of 20.86, a current ratio of 1.17 and a debt-to-equity ratio of 4.24.

Insider Activity

In other news, Director Martie Cloete sold 2,800 shares of Ivanhoe Mines stock in a transaction that occurred on Friday, November 8th. The stock was 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 the stock in a transaction on Thursday, November 21st. The shares were sold at an average price of C$19.00, for a total value of C$1,145,472.00. Insiders have sold 68,088 shares of company stock worth $1,292,379 in the last quarter. Corporate insiders own 44.96% of the company’s stock.

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.