Ivanhoe Mines Ltd. (TSE:IVN) Director Sells C$51,968.00 in Stock

Ivanhoe Mines Ltd. (TSE:IVN) Director Martie Cloete sold 2,800 shares of the business’s 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.

Ivanhoe Mines Stock Performance

Shares of IVN stock opened at C$17.60 on Friday. The stock’s 50-day moving average price is C$18.74 and its 200 day moving average price is C$18.50. 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 stock has a market capitalization of C$23.76 billion, a PE ratio of 108.69 and a beta of 1.94. Ivanhoe Mines Ltd. has a 52-week low of C$10.67 and a 52-week high of C$21.32.

Analysts Set New Price Targets

A number of analysts have issued reports on the company. Royal Bank of Canada cut their target price on Ivanhoe Mines from C$25.00 to C$24.00 and set an “outperform” rating on the stock in a research report on Tuesday, September 10th. Canaccord Genuity Group raised their price objective on shares of Ivanhoe Mines from C$24.00 to C$25.00 in a report on Monday, July 22nd. Scotiabank upped their target price on shares of Ivanhoe Mines from C$21.00 to C$22.00 and gave the company an “outperform” rating in a report on Tuesday, October 8th. Finally, TD Securities boosted their price target on shares of Ivanhoe Mines from C$23.00 to C$25.00 in a research report on Monday, July 22nd. Eight equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of C$24.30.

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.