Ivanhoe Mines (TSE:IVN) Price Target Lowered to C$24.00 at Royal Bank of Canada

Ivanhoe Mines (TSE:IVN) had its price target decreased by Royal Bank of Canada from C$25.00 to C$24.00 in a research report report published on Tuesday morning, BayStreet.CA reports. Royal Bank of Canada currently has an outperform rating on the stock.

Several other brokerages have also weighed in on IVN. Raymond James raised their price objective on shares of Ivanhoe Mines from C$21.00 to C$24.00 and gave the stock an outperform rating in a report on Thursday, May 23rd. Jefferies Financial Group boosted their price objective on Ivanhoe Mines from C$25.00 to C$26.00 in a report on Friday, July 12th. Citigroup upped their price objective on Ivanhoe Mines from C$15.00 to C$24.00 and gave the company a buy rating in a research note on Thursday, June 20th. Scotiabank decreased their target price on Ivanhoe Mines from C$23.00 to C$21.00 in a research report on Monday, August 19th. Finally, TD Securities upped their price target on Ivanhoe Mines from C$23.00 to C$25.00 in a research report on Monday, July 22nd. Nine analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has a consensus rating of Buy and a consensus price target of C$24.20.

Ivanhoe Mines Trading Up 1.5 %

TSE:IVN opened at C$15.98 on Tuesday. Ivanhoe Mines has a one year low of C$9.89 and a one year high of C$21.32. The business’s 50-day simple moving average is C$17.61 and its 200 day simple moving average is C$17.66. 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 stock has a market cap of C$21.57 billion, a price-to-earnings ratio of 99.88 and a beta of 1.93.

Ivanhoe Mines (TSE:IVN) last released its earnings results on Wednesday, July 31st. The company reported C$0.08 EPS for the quarter, beating the consensus estimate of C$0.07 by C$0.01. As a group, sell-side analysts predict that Ivanhoe Mines will post 1.034134 earnings per share for the current fiscal year.

Insider Transactions 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 shares were 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 firm’s stock in a transaction 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. Also, insider CITIC Metal Africa Investments Limited sold 248,314 shares of Ivanhoe Mines stock in a transaction dated Thursday, June 13th. The shares were sold at an average price of C$17.32, for a total transaction of C$4,300,723.99. Over the last quarter, insiders sold 12,064,414 shares of company stock worth $210,021,077. Insiders own 45.03% 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.