Several other equities research analysts also recently weighed in on the stock. Canaccord Genuity lifted their price target on shares of Ivanhoe Mines from C$4.75 to C$6.00 and gave the company a speculative buy rating in a research note on Tuesday, January 24th. BMO Capital Markets lifted their price target on shares of Ivanhoe Mines from C$3.25 to C$5.75 in a research note on Tuesday, December 20th. Royal Bank of Canada reaffirmed an outperform rating on shares of Ivanhoe Mines in a research note on Wednesday, December 14th. Sanford C. Bernstein reaffirmed an outperform rating and issued a C$10.00 price target on shares of Ivanhoe Mines in a research note on Friday, December 9th. Finally, CIBC began coverage on shares of Ivanhoe Mines in a research note on Friday, December 2nd. They issued a sector outperform rating and a C$3.25 price target for the company. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. The stock has a consensus rating of Buy and an average price target of C$5.38.
Shares of Ivanhoe Mines (TSE:IVN) opened at 4.30 on Wednesday. Ivanhoe Mines has a 52 week low of $0.78 and a 52 week high of $5.11. The firm has a market capitalization of $3.35 billion and a P/E ratio of 4.74. The company has a 50-day moving average of $4.29 and a 200 day moving average of $2.96.
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In other Ivanhoe Mines news, insider Mark Sean Farren sold 89,316 shares of Ivanhoe Mines stock in a transaction on Friday, February 24th. The shares were sold at an average price of C$4.32, for a total value of C$385,845.12. Also, Director Martie Cloete sold 45,000 shares of Ivanhoe Mines stock in a transaction on Monday, February 27th. The shares were sold at an average price of C$4.25, for a total transaction of C$191,250.00. Over the last ninety days, insiders sold 166,879 shares of company stock valued at $715,463.
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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