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

Ivanhoe Mines Ltd. (TSE:IVN) has been given a consensus rating of “Buy” by the eight analysts that are covering the stock, Marketbeat Ratings reports. Eight analysts have rated the stock with a buy rating. The average 1 year price target among brokerages that have issued a report on the stock in the last year is C$24.00.

IVN has been the topic of a number of research reports. Raymond James dropped their price target on shares of Ivanhoe Mines from C$25.00 to C$24.00 and set an “outperform” rating on the stock in a research note on Thursday, January 9th. TD Securities dropped their target price on Ivanhoe Mines from C$25.00 to C$24.00 and set a “buy” rating on the stock in a research report on Thursday, January 9th. Finally, Scotiabank reduced their price target on Ivanhoe Mines from C$21.00 to C$20.00 and set an “outperform” rating for the company in a report on Thursday, January 9th.

Ivanhoe Mines Stock Performance

Shares of IVN opened at C$16.11 on Friday. Ivanhoe Mines has a 52 week low of C$13.84 and a 52 week high of C$21.32. The company has a debt-to-equity ratio of 4.24, a quick ratio of 20.86 and a current ratio of 1.17. The company has a market capitalization of C$21.75 billion, a PE ratio of 100.69 and a beta of 1.94. The company’s 50 day moving average price is C$17.37 and its 200 day moving average price is C$17.93.

Insider Activity

In related news, Senior Officer Chao (Peter) Zhou sold 4,800 shares of the stock in a transaction that occurred on 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 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 value of C$1,145,472.00. In the last quarter, insiders have sold 65,288 shares of company stock valued at $1,240,411. 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.