Ivanhoe Mines (TSE:IVN – Get Free Report) had its price objective raised by equities researchers at Citigroup from C$15.00 to C$24.00 in a research report issued on Thursday, BayStreet.CA reports. The firm currently has a “buy” rating on the stock. Citigroup’s price target would suggest a potential upside of 39.21% from the company’s previous close.
Several other research analysts have also commented on the stock. Eight Capital boosted their price objective on shares of Ivanhoe Mines from C$19.00 to C$30.00 in a research note on Monday, April 22nd. Bank of America boosted their price objective on shares of Ivanhoe Mines from C$15.50 to C$21.00 in a research note on Tuesday, April 9th. Royal Bank of Canada upped their price target 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. BMO Capital Markets upped their price target 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, Raymond James upped their price target on shares of Ivanhoe Mines from C$21.00 to C$24.00 and gave the company an “outperform” rating in a research note on Thursday, May 23rd. Nine analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Ivanhoe Mines currently has a consensus rating of “Buy” and an average price target of C$23.25.
Read Our Latest Analysis on IVN
Ivanhoe Mines Trading Down 4.1 %
Ivanhoe Mines (TSE:IVN – Get Free Report) last posted its quarterly earnings data on Tuesday, April 30th. The company reported C($0.07) EPS for the quarter, missing the consensus estimate of C($0.01) by C($0.06). As a group, sell-side analysts forecast that Ivanhoe Mines will post 0.4653228 EPS for the current fiscal year.
Insider Activity
In other news, insider CITIC Metal Africa Investments Limited sold 11,810,800 shares of the company’s stock in a transaction 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. In related news, insider CITIC Metal Africa Investments Limited sold 11,810,800 shares of the stock in a transaction 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. Also, Director Delphine TraorĂ© purchased 5,704 shares of the stock in a transaction that occurred on Monday, June 17th. The shares were purchased at an average cost of C$17.40 per share, for a total transaction of C$99,249.60. Insiders have sold 12,060,014 shares of company stock valued at $209,942,666 in the last ninety days. Insiders own 50.86% of the company’s stock.
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.
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