Citigroup Boosts Ivanhoe Mines (TSE:IVN) Price Target to C$24.00

Ivanhoe Mines (TSE:IVN) had its price target boosted by Citigroup from C$15.00 to C$24.00 in a research report sent to investors on Thursday, Marketbeat reports. They currently have a buy rating on the stock.

Several other research firms have also issued reports on IVN. Eight Capital upped their target price on shares of Ivanhoe Mines from C$19.00 to C$30.00 in a research note on Monday, April 22nd. Royal Bank of Canada increased their price target on shares of Ivanhoe Mines from C$19.00 to C$22.00 and gave the company an outperform rating in a research report on Wednesday, May 1st. Jefferies Financial Group set a C$25.00 price target on shares of Ivanhoe Mines and gave the company a buy rating in a research report on Friday, May 3rd. BMO Capital Markets increased their target price on shares of Ivanhoe Mines from C$18.00 to C$22.00 and gave the stock an outperform rating in a research report on Wednesday, May 1st. Finally, TD Securities increased their target price on shares of Ivanhoe Mines from C$17.00 to C$17.50 and gave the stock a buy rating in a research report on Wednesday, February 28th. Nine research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company has a consensus rating of Buy and a consensus price target of C$23.25.

Ivanhoe Mines Stock Down 4.1 %

Ivanhoe Mines stock opened at C$17.24 on Thursday. The company has a quick ratio of 20.86, a current ratio of 0.42 and a debt-to-equity ratio of 18.77. Ivanhoe Mines has a 12-month low of C$9.89 and a 12-month high of C$21.32. The firm’s fifty day moving average is C$19.09 and its 200 day moving average is C$16.05. The company has a market capitalization of C$21.89 billion, a PE ratio of 90.74 and a beta of 1.98.

Ivanhoe Mines (TSE:IVN) last released its quarterly earnings data on Tuesday, April 30th. The company reported C($0.07) earnings per share for the quarter, missing the consensus estimate of C($0.01) by C($0.06). As a group, sell-side analysts predict that Ivanhoe Mines will post 0.4653228 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider CITIC Metal Africa Investments Limited sold 248,314 shares of the stock in a transaction dated Thursday, June 13th. The shares were sold at an average price of C$17.32, for a total value of C$4,300,723.99. In related news, insider CITIC Metal Africa Investments Limited sold 248,314 shares of the stock in a transaction dated Thursday, June 13th. The shares were sold at an average price of C$17.32, for a total transaction of C$4,300,723.99. Also, Director Delphine Traoré acquired 5,704 shares of the business’s stock in a transaction that occurred on Monday, June 17th. The shares were purchased at an average cost of C$17.40 per share, for a total transaction of C$99,249.60. Insiders sold a total of 12,060,014 shares of company stock worth $209,942,666 in the last three months. 50.86% of the stock is owned by corporate insiders.

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.