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

Shares of Ivanhoe Mines Ltd. (TSE:IVN) have received a consensus rating of “Buy” from the nine research firms that are currently covering the firm, Marketbeat reports. Nine equities research analysts have rated the stock with a buy recommendation. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is C$23.25.

A number of analysts recently commented on the stock. Citigroup boosted their price objective on shares of Ivanhoe Mines from C$15.00 to C$24.00 and gave the stock a “buy” rating in a report on Thursday, June 20th. TD Securities raised their price objective on Ivanhoe Mines from C$17.00 to C$17.50 and gave the company a “buy” rating in a research note on Wednesday, February 28th. Eight Capital lifted their price objective on Ivanhoe Mines from C$19.00 to C$30.00 in a report on Monday, April 22nd. Royal Bank of Canada raised their price target on Ivanhoe Mines from C$19.00 to C$22.00 and gave the company an “outperform” rating in a research report on Wednesday, May 1st. Finally, Scotiabank boosted their price objective on shares of Ivanhoe Mines from C$19.00 to C$23.00 and gave the stock an “outperform” rating in a research report on Thursday, May 30th.

Ivanhoe Mines Stock Up 1.6 %

IVN opened at C$17.89 on Thursday. The company has a debt-to-equity ratio of 18.77, a current ratio of 0.42 and a quick ratio of 20.86. Ivanhoe Mines has a 12 month low of C$9.89 and a 12 month high of C$21.32. The stock has a market capitalization of C$22.72 billion, a P/E ratio of 94.16 and a beta of 1.98. The business has a 50 day simple moving average of C$19.02 and a 200-day simple moving average of C$16.14.

Ivanhoe Mines (TSE:IVN) last released its earnings results on Tuesday, April 30th. The company reported C($0.07) EPS for the quarter, missing analysts’ consensus estimates of C($0.01) by C($0.06). On average, equities analysts anticipate that Ivanhoe Mines will post 0.4653228 earnings per share for the current fiscal year.

Insider Transactions at Ivanhoe Mines

In related news, insider CITIC Metal Africa Investments Limited sold 11,810,800 shares of the firm’s stock in a transaction that occurred on Monday, June 17th. The shares were sold at an average price of C$17.41, for a total transaction of C$205,626,028.00. In related news, insider CITIC Metal Africa Investments Limited sold 11,810,800 shares of the stock in a transaction dated Monday, June 17th. The stock was sold at an average price of C$17.41, for a total transaction of C$205,626,028.00. Also, Senior Officer Mary Vincelli sold 3,600 shares of Ivanhoe Mines stock in a transaction dated Thursday, June 20th. The shares were sold at an average price of C$17.96, for a total value of C$64,639.80. Insiders sold a total of 12,064,614 shares of company stock worth $210,024,706 over the last ninety days. 50.86% of the stock is currently owned by corporate insiders.

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.