Brokerages Set Ivanhoe Mines Ltd. (TSE:IVN) Target Price at C$24.30

Ivanhoe Mines Ltd. (TSE:IVN - Get Free Report) has earned a consensus recommendation of "Buy" from the eight ratings firms that are covering the stock, Marketbeat reports. Eight research analysts have rated the stock with a buy recommendation. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is C$24.30.

Several analysts have recently issued reports on the company. Royal Bank of Canada decreased their price target on 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 upped their target price 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.

Insider Activity at Ivanhoe Mines

In other news, Senior Officer Chao (Peter) Zhou sold 4,800 shares of the firm's stock in a transaction dated Monday, November 25th. The stock was sold at an average price of C$19.00, for a total transaction of C$91,200.00. Also, Director Martie Cloete sold 2,800 shares of the company's 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. Insiders sold 68,088 shares of company stock valued at $1,292,379 in the last three months. Corporate insiders own 44.96% of the company's stock.

Ivanhoe Mines Stock Up 1.8 %

Shares of IVN traded up C$0.32 during mid-day trading on Monday, hitting C$17.74. 1,120,975 shares of the company's stock were exchanged, compared to its average volume of 902,078. The stock has a market cap of C$23.95 billion, a price-to-earnings ratio of 110.88 and a beta of 1.94. The firm has a fifty day moving average of C$18.39 and a two-hundred day moving average of C$18.19. The company has a quick ratio of 20.86, a current ratio of 1.17 and a debt-to-equity ratio of 4.24. Ivanhoe Mines has a twelve month low of C$12.94 and a twelve month high of C$21.32.

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.