Ivanhoe Mines Ltd. (TSE:IVN) Given Consensus Recommendation of “Buy” by Brokerages

Ivanhoe Mines Ltd. (TSE:IVN) has earned a consensus rating of “Buy” from the eight analysts that are currently covering the firm, Marketbeat reports. Eight investment analysts have rated the stock with a buy recommendation. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is C$24.00.

Several research analysts recently commented on the company. TD Securities lowered their target price on Ivanhoe Mines from C$25.00 to C$24.00 and set a “buy” rating for the company in a research note on Thursday, January 9th. Raymond James lowered their price objective on Ivanhoe Mines from C$25.00 to C$24.00 and set an “outperform” rating for the company in a research report on Thursday, January 9th. Finally, Scotiabank reduced their target price on shares of Ivanhoe Mines from C$21.00 to C$20.00 and set an “outperform” rating on the stock in a report on Thursday, January 9th.

Insider Buying and Selling at Ivanhoe Mines

In other Ivanhoe Mines news, Director Jinghe Chen sold 60,288 shares of the business’s stock in a transaction on Thursday, November 21st. The shares were sold at an average price of C$19.00, for a total transaction of C$1,145,472.00. 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 transaction of C$51,968.00. In the last three months, insiders have sold 68,088 shares of company stock valued at $1,292,379. 44.96% of the stock is owned by company insiders.

Ivanhoe Mines Price Performance

IVN opened at C$15.91 on Friday. The stock’s 50-day moving average price is C$17.44 and its 200 day moving average price is C$17.96. Ivanhoe Mines has a 12-month low of C$13.79 and a 12-month high of C$21.32. The firm has a market cap of C$21.48 billion, a price-to-earnings ratio of 99.44 and a beta of 1.94. The company has a current ratio of 1.17, a quick ratio of 20.86 and a debt-to-equity ratio of 4.24.

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.