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

Ivanhoe Mines (TSE:IVN) had its price objective lowered by Scotiabank from C$23.00 to C$21.00 in a report released on Monday morning, BayStreet.CA reports.

A number of other research analysts have also recently commented on IVN. BMO Capital Markets upped their target price on 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. Canaccord Genuity Group boosted their price target on shares of Ivanhoe Mines from C$24.00 to C$25.00 in a report on Monday, July 22nd. Citigroup boosted their price objective on shares of Ivanhoe Mines from C$15.00 to C$24.00 and gave the stock a buy rating in a research note on Thursday, June 20th. TD Securities boosted their target price on Ivanhoe Mines from C$23.00 to C$25.00 in a research note on Monday, July 22nd. 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 report on Thursday, May 23rd. Nine research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock has an average rating of Buy and an average price target of C$24.00.

Ivanhoe Mines Stock Performance

Ivanhoe Mines stock opened at C$17.88 on Monday. The company has a market cap of C$24.14 billion, a PE ratio of 111.75 and a beta of 1.93. Ivanhoe Mines has a twelve month low of C$9.89 and a twelve month high of C$21.32. The company has a quick ratio of 20.86, a current ratio of 1.17 and a debt-to-equity ratio of 4.24. The company’s 50-day moving average price is C$17.63 and its 200-day moving average price is C$17.31.

Insider Transactions at Ivanhoe Mines

In other news, insider CITIC Metal Africa Investments Limited sold 11,810,800 shares of the stock in a transaction dated Monday, June 17th. The stock was sold at an average price of C$17.41, for a total value of C$205,626,028.00. In other news, insider CITIC Metal Africa Investments Limited sold 11,810,800 shares of Ivanhoe Mines 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 transaction of C$205,626,028.00. Also, Director Delphine Traoré acquired 5,704 shares of the stock in a transaction that occurred on 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. Over the last 90 days, insiders have sold 12,064,614 shares of company stock valued at $210,024,706. 45.18% of the stock is currently owned by company 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.