Ivanhoe Mines (TSE:IVN) Price Target Lowered to C$20.00 at Scotiabank

Ivanhoe Mines (TSE:IVN - Get Free Report) had its price objective dropped by equities researchers at Scotiabank from C$21.00 to C$20.00 in a research report issued to clients and investors on Thursday,BayStreet.CA reports. The firm currently has an "outperform" rating on the stock. Scotiabank's price target points to a potential upside of 16.35% from the company's previous close. Scotiabank also issued estimates for Ivanhoe Mines' FY2024 earnings at $0.34 EPS and FY2025 earnings at $0.63 EPS.

Several other equities research analysts also recently issued reports on IVN. Raymond James dropped their price objective on Ivanhoe Mines from C$25.00 to C$24.00 and set an "outperform" rating on the stock in a report on Thursday. TD Securities dropped their price target on shares of Ivanhoe Mines from C$25.00 to C$24.00 and set a "buy" rating for the company in a research note on Thursday. Eight investment analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has a consensus rating of "Buy" and a consensus price target of C$24.00.

Ivanhoe Mines Stock Up 1.6 %

Shares of TSE IVN traded up C$0.27 during midday trading on Thursday, reaching C$17.19. 979,623 shares of the company's stock were exchanged, compared to its average volume of 1,272,907. The company has a debt-to-equity ratio of 4.24, a quick ratio of 20.86 and a current ratio of 1.17. Ivanhoe Mines has a 52-week low of C$12.94 and a 52-week high of C$21.32. The business's fifty day moving average price is C$18.30 and its two-hundred day moving average price is C$18.19. The stock has a market capitalization of C$23.21 billion, a PE ratio of 107.44 and a beta of 1.94.

Insiders Place Their Bets

In related news, Director Jinghe Chen sold 60,288 shares of the company's stock in a transaction on Thursday, November 21st. The stock was sold at an average price of C$19.00, for a total transaction of C$1,145,472.00. Also, Senior Officer Chao (Peter) Zhou sold 4,800 shares of the firm's stock in a transaction on Monday, November 25th. The shares were sold at an average price of C$19.00, for a total value of C$91,200.00. Insiders sold a total of 68,088 shares of company stock valued at $1,292,379 over the last 90 days. 44.96% of the stock is owned by company 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.