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

Ivanhoe Mines Ltd. (TSE:IVN) has earned a consensus rating of “Buy” from the eight ratings firms that are covering the firm, MarketBeat.com reports. Eight research analysts have rated the stock with a buy recommendation. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is C$24.30.

IVN has been the subject of a number of research analyst reports. Scotiabank raised their target price on 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. Royal Bank of Canada cut their price objective 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 Tuesday, September 10th.

Ivanhoe Mines Trading Down 1.1 %

Shares of Ivanhoe Mines stock opened at C$19.09 on Friday. Ivanhoe Mines has a 12-month low of C$10.78 and a 12-month high of C$21.32. The firm’s 50 day simple moving average is C$19.04 and its two-hundred day simple moving average is C$18.46. The company has a current ratio of 1.17, a quick ratio of 20.86 and a debt-to-equity ratio of 4.24. The firm has a market capitalization of C$25.77 billion, a price-to-earnings ratio of 119.31 and a beta of 1.94.

Insider Activity

In other news, Director Martie Cloete sold 2,800 shares of the firm’s stock in a transaction dated Friday, November 8th. The stock was sold at an average price of C$18.56, for a total transaction of C$51,968.00. 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.