Brokerages Set Ivanhoe Mines Ltd. (TSE:IVN) Price Target at C$24.30

Ivanhoe Mines Ltd. (TSE:IVN) has been assigned a consensus rating of “Buy” from the eight research firms that are currently covering the stock, MarketBeat.com reports. Eight investment analysts have rated the stock with a buy recommendation. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is C$24.30.

Several equities analysts have recently issued reports on IVN shares. Scotiabank boosted their price objective on Ivanhoe Mines from C$21.00 to C$22.00 and gave the company an “outperform” rating in a report on Tuesday, October 8th. Royal Bank of Canada lowered their price objective on Ivanhoe Mines from C$25.00 to C$24.00 and set an “outperform” rating on the stock in a research report on Tuesday, September 10th.

Insider Transactions at Ivanhoe Mines

In other Ivanhoe Mines news, Director Martie Cloete sold 2,800 shares of the firm’s stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of C$18.56, for a total value of C$51,968.00. Company insiders own 44.96% of the company’s stock.

Ivanhoe Mines Stock Up 1.9 %

IVN stock opened at C$18.69 on Friday. The stock has a market capitalization of C$25.23 billion, a PE ratio of 117.44 and a beta of 1.94. Ivanhoe Mines has a 52 week low of C$10.78 and a 52 week 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 firm has a 50 day moving average of C$18.83 and a 200 day moving average of C$18.46.

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.