Brokerages Set Ivanhoe Mines Ltd. (TSE:IVN) Target Price at C$23.17

Ivanhoe Mines Ltd. (TSE:IVN) has been given a consensus rating of “Buy” by the nine research firms that are covering the firm, MarketBeat.com reports. Nine analysts have rated the stock with a buy rating. The average 1-year target price among analysts that have issued ratings on the stock in the last year is C$23.25.

A number of equities research analysts have commented on the stock. TD Securities increased their price objective on shares of Ivanhoe Mines from C$17.00 to C$17.50 and gave the company a “buy” rating in a research report on Wednesday, February 28th. BMO Capital Markets increased 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 report on Wednesday, May 1st. Jefferies Financial Group set a C$25.00 target price on shares of Ivanhoe Mines and gave the company a “buy” rating in a research report on Friday, May 3rd. Royal Bank of Canada increased their target price on shares of Ivanhoe Mines from C$19.00 to C$22.00 and gave the company an “outperform” rating in a research report on Wednesday, May 1st. Finally, Raymond James increased their target price on shares of Ivanhoe Mines from C$21.00 to C$24.00 and gave the company an “outperform” rating in a research report on Thursday, May 23rd.

Ivanhoe Mines Price Performance

Ivanhoe Mines stock opened at C$17.24 on Thursday. The firm has a market cap of C$21.89 billion, a PE ratio of 90.74 and a beta of 1.98. Ivanhoe Mines has a 52-week low of C$9.89 and a 52-week high of C$21.32. The company has a quick ratio of 20.86, a current ratio of 0.42 and a debt-to-equity ratio of 18.77. The company’s 50 day moving average is C$19.09 and its two-hundred day moving average is C$16.02.

Ivanhoe Mines (TSE:IVN) last announced its quarterly earnings data on Tuesday, April 30th. The company reported C($0.07) EPS for the quarter, missing analysts’ consensus estimates of C($0.01) by C($0.06). On average, research analysts expect that Ivanhoe Mines will post 0.4653228 EPS for the current fiscal year.

Insider Transactions at Ivanhoe Mines

In other news, Director Delphine Traoré bought 5,704 shares of Ivanhoe Mines stock in a transaction dated Monday, June 17th. The stock was bought at an average price of C$17.40 per share, for a total transaction of C$99,249.60. In related news, insider CITIC Metal Africa Investments Limited sold 248,314 shares of the firm’s stock in a transaction dated Thursday, June 13th. The shares were sold at an average price of C$17.32, for a total value of C$4,300,723.99. Also, Director Delphine Traoré bought 5,704 shares of the company’s stock in a transaction on Monday, June 17th. The shares were acquired at an average price of C$17.40 per share, with a total value of C$99,249.60. In the last quarter, insiders sold 12,060,014 shares of company stock worth $209,942,666. Company 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.