Raymond James Cuts Ivanhoe Mines (TSE:IVN) Price Target to C$24.00

Ivanhoe Mines (TSE:IVN) had its price target reduced by equities researchers at Raymond James from C$25.00 to C$24.00 in a note issued to investors on Thursday,BayStreet.CA reports. The firm currently has an “outperform” rating on the stock. Raymond James’ price target points to a potential upside of 39.53% from the company’s current price.

Other analysts also recently issued research reports about the stock. TD Securities reduced their price target on shares of Ivanhoe Mines from C$25.00 to C$24.00 and set a “buy” rating for the company in a research report on Thursday. Scotiabank increased their price objective on Ivanhoe Mines from C$21.00 to C$22.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 8th. Eight research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of C$24.00.

Ivanhoe Mines Trading Up 1.7 %

Ivanhoe Mines stock traded up C$0.28 during midday trading on Thursday, reaching C$17.20. 485,183 shares of the stock traded hands, compared to its average volume of 1,187,983. The firm has a market cap of C$23.22 billion, a PE ratio of 107.50 and a beta of 1.94. The company has a 50-day simple moving average of C$18.30 and a two-hundred day simple moving average of C$18.19. Ivanhoe Mines has a 12-month low of C$12.94 and a 12-month high of C$21.32. The company has a current ratio of 1.17, a quick ratio of 20.86 and a debt-to-equity ratio of 4.24.

Insider Buying and Selling

In related news, Director Martie Cloete sold 2,800 shares of Ivanhoe Mines stock in a transaction dated Friday, November 8th. The stock was sold at an average price of C$18.56, for a total value of C$51,968.00. Also, Director Jinghe Chen sold 60,288 shares of Ivanhoe Mines stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of C$19.00, for a total transaction of C$1,145,472.00. Insiders sold 68,088 shares of company stock valued at $1,292,379 over the last 90 days. 44.96% 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.