Ivanhoe Mines (TSE:IVN) Price Target Raised to C$13.50 at Scotiabank

Ivanhoe Mines (TSE:IVN) had its price objective lifted by stock analysts at Scotiabank from C$13.00 to C$13.50 in a report issued on Monday,BayStreet.CA reports. The brokerage currently has a “sector perform” rating on the stock. Scotiabank’s price objective would suggest a potential upside of 9.05% from the company’s previous close.

Other equities research analysts have also issued reports about the stock. Canaccord Genuity Group decreased their price target on shares of Ivanhoe Mines from C$15.00 to C$11.50 and set a “hold” rating on the stock in a report on Monday, April 6th. Royal Bank Of Canada lowered shares of Ivanhoe Mines from a “moderate buy” rating to a “hold” rating in a research note on Monday, April 6th. TD Securities dropped their target price on shares of Ivanhoe Mines from C$19.00 to C$13.00 and set a “buy” rating on the stock in a research report on Wednesday, April 1st. Citigroup lowered their price objective on shares of Ivanhoe Mines from C$18.00 to C$13.00 and set a “buy” rating on the stock in a report on Thursday, April 9th. Finally, Stifel Nicolaus reduced their target price on shares of Ivanhoe Mines from C$22.00 to C$15.00 in a research note on Wednesday, April 1st. Three equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of C$14.44.

Ivanhoe Mines Price Performance

Shares of TSE:IVN traded up C$0.60 during midday trading on Monday, hitting C$12.38. The stock had a trading volume of 1,763,075 shares, compared to its average volume of 4,673,456. The company’s 50-day moving average price is C$11.70 and its 200-day moving average price is C$13.82. The company has a market capitalization of C$17.66 billion, a P/E ratio of 137.56 and a beta of 1.60. The company has a quick ratio of 20.86, a current ratio of 2.33 and a debt-to-equity ratio of 21.02. Ivanhoe Mines has a fifty-two week low of C$10.01 and a fifty-two week high of C$20.34.

Insiders Place Their Bets

In related news, Director Setha Patricia Makhesha sold 5,200 shares of the stock in a transaction dated Thursday, May 21st. The shares were sold at an average price of C$11.45, for a total transaction of C$59,540.00. Following the completion of the transaction, the director owned 77,922 shares in the company, valued at approximately C$892,206.90. This represents a 6.26% decrease in their ownership of the stock. Insiders have sold a total of 10,000 shares of company stock worth $114,554 in the last three months. 44.96% of the stock is currently owned by corporate insiders.

About Ivanhoe Mines

Ivanhoe Mines Ltd is a mineral exploration and development company. The company, together with its subsidiaries, explores, develops, and recovers minerals and precious gems from its property interests located in Africa. The group explores platinum, nickel, copper, gold, silver, cobalt, iron, vanadium, and chrome. It operates in four segments: Platreef property, Kamoa Holding joint venture, Kipushi properties, and the Company’s treasury offices.