Ivanhoe Mines (TSE:IVN) Trading Down 5.6%

Ivanhoe Mines Ltd. (TSE:IVN - Get Free Report) shares were down 5.6% during mid-day trading on Wednesday . The stock traded as low as C$17.88 and last traded at C$17.92. Approximately 221,899 shares traded hands during mid-day trading, a decline of 90% from the average daily volume of 2,231,601 shares. The stock had previously closed at C$18.99.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on IVN shares. Canaccord Genuity Group lifted their price target on Ivanhoe Mines from C$24.00 to C$25.00 in a research note on Monday, July 22nd. TD Securities lifted their price target on Ivanhoe Mines from C$23.00 to C$25.00 in a research note on Monday, July 22nd. Scotiabank decreased their price target on Ivanhoe Mines from C$23.00 to C$21.00 in a research note on Monday, August 19th. Royal Bank of Canada boosted their price objective on Ivanhoe Mines from C$19.00 to C$22.00 and gave the stock an "outperform" rating in a research report on Wednesday, May 1st. Finally, BMO Capital Markets boosted their price objective on Ivanhoe Mines from C$18.00 to C$22.00 and gave the stock an "outperform" rating in a research report on Wednesday, May 1st. Nine equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, Ivanhoe Mines presently has an average rating of "Buy" and a consensus price target of C$24.00.

Ivanhoe Mines Price Performance

The business has a 50-day simple moving average of C$17.74 and a 200 day simple moving average of C$17.50. The stock has a market cap of C$24.21 billion, a P/E ratio of 112.06 and a beta of 1.93. The company has a current ratio of 1.17, a quick ratio of 20.86 and a debt-to-equity ratio of 4.24.

Ivanhoe Mines (TSE:IVN - Get Free Report) last released its quarterly earnings results on Wednesday, July 31st. The company reported C$0.08 EPS for the quarter, beating analysts' consensus estimates of C$0.07 by C$0.01. On average, analysts forecast that Ivanhoe Mines Ltd. will post 0.5874016 earnings per share for the current year.

Insider Buying and Selling at Ivanhoe Mines

In other Ivanhoe Mines news, Senior Officer Mary Vincelli sold 3,600 shares of the company's stock in a transaction dated Thursday, June 20th. The stock was sold at an average price of C$17.96, for a total value of C$64,639.80. In other news, Senior Officer Mary Vincelli sold 3,600 shares of the business's stock in a transaction dated Thursday, June 20th. The stock was sold at an average price of C$17.96, for a total value of C$64,639.80. Also, Director Delphine Traoré acquired 5,704 shares of the company's stock in a transaction dated Monday, June 17th. The stock was acquired at an average cost of C$17.40 per share, for a total transaction of C$99,249.60. In the last quarter, insiders have sold 12,064,614 shares of company stock worth $210,024,706. Insiders own 45.03% 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.