Ivanhoe Mines (TSE:IVN) Price Target Raised to C$13.50 at Scotiabank

Ivanhoe Mines (TSE:IVN) had its target price hoisted by equities research analysts at Scotiabank from C$13.00 to C$13.50 in a research report issued on Monday,BayStreet.CA reports. The firm currently has a “sector perform” rating on the stock. Scotiabank’s price target points to a potential upside of 9.05% from the stock’s current price.

A number of other research firms have also recently weighed in on IVN. Raymond James Financial cut shares of Ivanhoe Mines from a “moderate buy” rating to a “hold” rating and lowered their target price for the company from C$23.00 to C$17.00 in a research note on Wednesday, April 1st. Citigroup reduced their target price on shares of Ivanhoe Mines from C$18.00 to C$13.00 and set a “buy” rating on the stock in a research report on Thursday, April 9th. Stifel Nicolaus reduced their target price on shares of Ivanhoe Mines from C$22.00 to C$15.00 in a research report on Wednesday, April 1st. TD Securities cut their price objective on shares of Ivanhoe Mines from C$19.00 to C$13.00 and set a “buy” rating on the stock in a report on Wednesday, April 1st. Finally, BMO Capital Markets cut their target price on shares of Ivanhoe Mines from C$23.00 to C$16.00 in a report on Wednesday, April 1st. Three investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of C$14.44.

Ivanhoe Mines Price Performance

Ivanhoe Mines stock traded up C$0.60 during mid-day trading on Monday, hitting C$12.38. The company’s stock had a trading volume of 1,763,075 shares, compared to its average volume of 4,673,456. The company has a quick ratio of 20.86, a current ratio of 2.33 and a debt-to-equity ratio of 21.02. The stock has a market capitalization of C$17.66 billion, a P/E ratio of 137.56 and a beta of 1.60. Ivanhoe Mines has a twelve month low of C$10.01 and a twelve month high of C$20.34. The stock’s fifty day moving average price is C$11.70 and its two-hundred day moving average price is C$13.82.

Insider Activity at Ivanhoe Mines

In other news, Director Setha Patricia Makhesha sold 5,200 shares of the firm’s stock in a transaction dated Thursday, May 21st. The shares were sold at an average price of C$11.45, for a total transaction of C$59,540.00. Following the completion of the sale, the director owned 77,922 shares in the company, valued at approximately C$892,206.90. This trade represents a 6.26% decrease in their position. Over the last ninety days, insiders have sold 10,000 shares of company stock valued at $114,554. Company insiders own 44.96% of the company’s stock.

About Ivanhoe Mines

Ivanhoe Mines Ltd is a mineral exploration and development company. The company, together with its subsidiaries, explores, develops, and recovers minerals and precious gems from its property interests located in Africa. The group explores platinum, nickel, copper, gold, silver, cobalt, iron, vanadium, and chrome. It operates in four segments: Platreef property, Kamoa Holding joint venture, Kipushi properties, and the Company’s treasury offices.