Scotiabank Trims Ivanhoe Mines (TSE:IVN) Target Price to C$21.00

Ivanhoe Mines (TSE:IVN - Get Free Report) had its price objective reduced by research analysts at Scotiabank from C$23.00 to C$21.00 in a research report issued on Monday, BayStreet.CA reports. Scotiabank's price target suggests a potential upside of 17.45% from the stock's current price.

Several other research analysts have also issued reports on the stock. Eight Capital increased their price target on shares of Ivanhoe Mines from C$19.00 to C$30.00 in a research note on Monday, April 22nd. TD Securities increased their price target on shares of Ivanhoe Mines from C$23.00 to C$25.00 in a research note on Monday, July 22nd. Jefferies Financial Group raised their price objective on shares of Ivanhoe Mines from C$25.00 to C$26.00 in a research note on Friday, July 12th. BMO Capital Markets raised their price objective on shares of Ivanhoe Mines from C$18.00 to C$22.00 and gave the company an "outperform" rating in a research note on Wednesday, May 1st. Finally, Royal Bank of Canada raised their price objective on shares of Ivanhoe Mines from C$19.00 to C$22.00 and gave the company an "outperform" rating in a research note on Wednesday, May 1st. Nine investment analysts have rated the stock with a buy rating, According to MarketBeat, the company has a consensus rating of "Buy" and an average price target of C$24.00.

Ivanhoe Mines Stock Up 3.7 %

Shares of Ivanhoe Mines stock traded up C$0.64 during trading on Monday, hitting C$17.88. The company's stock had a trading volume of 2,832,207 shares, compared to its average volume of 2,268,604. The company has a debt-to-equity ratio of 4.24, a quick ratio of 20.86 and a current ratio of 1.17. The company has a fifty day simple moving average of C$17.64 and a two-hundred day simple moving average of C$17.29. The company has a market capitalization of C$24.14 billion, a PE ratio of 111.56 and a beta of 1.93. Ivanhoe Mines has a 52 week low of C$9.89 and a 52 week high of C$21.32.

Insider Activity

In other news, insider CITIC Metal Africa Investments Limited sold 11,810,800 shares of the firm's stock in a transaction dated 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 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 value of C$205,626,028.00. Also, Senior Officer Mary Vincelli sold 3,600 shares of the firm's stock in a transaction that occurred on Thursday, June 20th. The stock was sold at an average price of C$17.96, for a total transaction of C$64,639.80. Insiders have sold a total of 12,064,614 shares of company stock valued at $210,024,706 in the last 90 days. 45.18% of the stock is currently owned by insiders.

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.