TD Securities Lowers Ivanhoe Mines (TSE:IVN) Price Target to C$24.00

Ivanhoe Mines (TSE:IVN) had its price objective lowered by TD Securities from C$25.00 to C$24.00 in a research report released on Thursday morning,BayStreet.CA reports. The brokerage currently has a buy rating on the stock.

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

Ivanhoe Mines Price Performance

Shares of TSE IVN opened at C$17.19 on Thursday. Ivanhoe Mines has a 52 week low of C$12.94 and a 52 week high of C$21.32. The business’s 50 day moving average price is C$18.26 and its 200 day moving average price is 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. The firm has a market cap of C$23.21 billion, a P/E ratio of 107.44 and a beta of 1.94.

Insider Buying and Selling at Ivanhoe Mines

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 value of C$91,200.00. Also, Director Jinghe Chen sold 60,288 shares of the business’s stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of C$19.00, for a total value of C$1,145,472.00. Over the last quarter, insiders sold 68,088 shares of company stock valued at $1,292,379. Corporate insiders own 44.96% 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.