Ivanhoe Mines Ltd (IVN) Given New C$8.00 Price Target at BMO Capital Markets
Ivanhoe Mines Ltd (TSE:IVN) had its price target upped by research analysts at BMO Capital Markets from C$7.00 to C$8.00 in a report released on Monday. The firm presently has an “outperform” rating on the stock. BMO Capital Markets’ price objective suggests a potential upside of 68.78% from the stock’s previous close.
Separately, CIBC reiterated a “neutral” rating and set a C$5.00 target price on shares of Ivanhoe Mines in a report on Friday, September 15th. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Ivanhoe Mines has a consensus rating of “Buy” and an average target price of C$6.58.
Ivanhoe Mines (TSE IVN) traded up 12.06% during midday trading on Monday, reaching $4.74. 3,506,318 shares of the company traded hands. The stock’s market capitalization is $3.73 billion. Ivanhoe Mines has a one year low of $1.91 and a one year high of $5.47. The company has a 50 day moving average price of $4.31 and a 200-day moving average price of $4.42.
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In other news, Director Matthieu Bos sold 7,000 shares of the firm’s stock in a transaction dated Thursday, August 24th. The shares were sold at an average price of C$4.53, for a total value of C$31,710.00. Also, Director Setha Patricia Makhesha sold 25,000 shares of the firm’s stock in a transaction dated Monday, September 18th. The shares were sold at an average price of C$4.21, for a total transaction of C$105,250.00. Over the last quarter, insiders have sold 56,500 shares of company stock worth $245,297.
Ivanhoe Mines Company Profile
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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