Ivanhoe Mines Ltd (IVN) Receives Consensus Recommendation of “Buy” from Brokerages
Shares of Ivanhoe Mines Ltd (TSE:IVN) have been assigned a consensus recommendation of “Buy” from the seven brokerages that are covering the stock. One research analyst has rated the stock with a hold rating and three have issued a buy rating on the company. The average 12 month price objective among brokers that have covered the stock in the last year is C$5.38.
IVN has been the subject of several analyst reports. Canaccord Genuity increased their target price on shares of Ivanhoe Mines from C$4.75 to C$6.00 and gave the stock a “speculative buy” rating in a report on Tuesday, January 24th. Paradigm Capital increased their target price on shares of Ivanhoe Mines from C$1.25 to C$5.00 in a report on Wednesday, March 15th.
Shares of Ivanhoe Mines (TSE:IVN) traded up 0.43% on Tuesday, hitting $4.71. 234,032 shares of the company traded hands. The firm’s 50 day moving average price is $4.73 and its 200-day moving average price is $3.53. Ivanhoe Mines has a 1-year low of $0.92 and a 1-year high of $5.47. The stock’s market capitalization is $3.70 billion.
In other Ivanhoe Mines news, Director Martie Cloete sold 45,000 shares of the company’s stock in a transaction that occurred on Monday, February 27th. The stock was sold at an average price of C$4.25, for a total value of C$191,250.00. Also, insider Mark Sean Farren sold 89,316 shares of the company’s stock in a transaction that occurred on Friday, February 24th. The stock was sold at an average price of C$4.32, for a total value of C$385,845.12. Insiders sold a total of 166,879 shares of company stock valued at $715,463 over the last 90 days.
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About Ivanhoe Mines
Ivanhoe Mines Ltd. is a mineral exploration and development company. The Company focuses on exploration within the Central African Copperbelt and the Bushveld Complex. It has four segments: the Platreef property, the Kamoa property and joint venture, the Kipushi property and treasury. The segments are engaged in the exploration and development of mineral properties in South Africa, the Democratic Republic of Congo (DRC) and the restoration of a mine in the DRC, respectively.
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