Ivanhoe Mines (TSE:IVN) Price Target Cut to C$20.00 by Analysts at Scotiabank

Ivanhoe Mines (TSE:IVN) had its price objective cut by Scotiabank from C$21.00 to C$20.00 in a report released on Thursday,BayStreet.CA reports. They currently have an outperform rating on the stock. Scotiabank also issued estimates for Ivanhoe Mines’ FY2024 earnings at $0.34 EPS and FY2025 earnings at $0.63 EPS.

A number of other research analysts also recently weighed in on the company. Raymond James decreased their price target on Ivanhoe Mines from C$25.00 to C$24.00 and set an “outperform” rating for the company in a research note on Thursday. TD Securities lowered their target price on shares of Ivanhoe Mines from C$25.00 to C$24.00 and set a “buy” rating on the stock in a report on Thursday. Eight analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock presently has an average rating of “Buy” and an average target price of C$24.00.

Ivanhoe Mines Trading Up 1.6 %

Shares of TSE:IVN opened at C$17.19 on Thursday. The company’s 50-day moving average price is C$18.26 and its two-hundred day moving average price is C$18.18. Ivanhoe Mines has a one year low of C$12.94 and a one year high of C$21.32. The company has a debt-to-equity ratio of 4.24, a current ratio of 1.17 and a quick ratio of 20.86. The stock has a market capitalization of C$23.21 billion, a PE ratio of 107.44 and a beta of 1.94.

Insiders Place Their Bets

In other news, Senior Officer Chao (Peter) Zhou sold 4,800 shares of the firm’s stock in a transaction that occurred on Monday, November 25th. The shares were 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 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. In the last ninety days, insiders sold 68,088 shares of company stock worth $1,292,379. Company 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.