Ivanhoe Mines (TSE:IVN) Price Target Cut to C$24.00 by Analysts at TD Securities

Ivanhoe Mines (TSE:IVN) had its target price cut by TD Securities from C$25.00 to C$24.00 in a research note released on Thursday,BayStreet.CA reports. They currently have a buy rating on the stock.

Separately, Scotiabank upped their price objective on shares of Ivanhoe Mines from C$21.00 to C$22.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 8th. Eight research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Ivanhoe Mines presently has a consensus rating of “Buy” and an average target price of C$24.00.

Ivanhoe Mines Trading Up 1.6 %

Shares of TSE IVN opened at C$17.19 on Thursday. Ivanhoe Mines has a twelve month low of C$12.94 and a twelve month high of C$21.32. The firm has a market cap of C$23.21 billion, a PE ratio of 107.44 and a beta of 1.94. The business has a fifty day simple moving average of C$18.26 and a two-hundred day simple moving average of C$18.18. The company has a quick ratio of 20.86, a current ratio of 1.17 and a debt-to-equity ratio of 4.24.

Insider Buying and Selling

In related news, Senior Officer Chao (Peter) Zhou sold 4,800 shares of the company’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of C$19.00, for a total transaction of C$91,200.00. Also, Director Martie Cloete sold 2,800 shares of the stock in a transaction dated Friday, November 8th. The shares were sold at an average price of C$18.56, for a total value of C$51,968.00. Insiders sold a total of 68,088 shares of company stock worth $1,292,379 in the last 90 days. 44.96% of the stock is owned by corporate insiders.

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.