Ivanhoe Mines (TSE:IVN) was upgraded by investment analysts at CIBC from a “neutral” rating to an “outperform” rating in a report issued on Monday. The brokerage currently has a C$5.25 target price on the stock, down from their prior target price of C$5.50. CIBC’s price target would suggest a potential upside of 26.81% from the company’s current price.
Other equities research analysts also recently issued research reports about the company. Raymond James Financial boosted their price objective on Ivanhoe Mines from C$6.00 to C$6.50 and gave the company an “outperform” rating in a report on Wednesday, November 29th. TD Securities restated a “speculative buy” rating and set a C$7.50 price objective on shares of Ivanhoe Mines in a report on Monday, November 13th. BMO Capital Markets boosted their price objective on Ivanhoe Mines from C$7.00 to C$8.00 and gave the company an “outperform” rating in a report on Monday, October 30th. Finally, Canaccord Genuity boosted their price objective on Ivanhoe Mines from C$6.50 to C$7.75 in a report on Wednesday, November 29th. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The stock has an average rating of “Buy” and an average price target of C$6.50.
Ivanhoe Mines (IVN) traded up C$0.04 during midday trading on Monday, hitting C$4.14. The stock had a trading volume of 1,009,937 shares, compared to its average volume of 1,216,144. The company has a market capitalization of $3,430.00, a P/E ratio of -69.00 and a beta of 0.89. Ivanhoe Mines has a 52-week low of C$3.60 and a 52-week high of C$5.47.
In related news, Director Setha Patricia Makhesha sold 40,000 shares of the company’s stock in a transaction on Monday, December 18th. The stock was sold at an average price of C$4.13, for a total transaction of C$165,200.00.
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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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