Ivanhoe Mines (TSE:IVN) Given New C$20.00 Price Target at Scotiabank

Ivanhoe Mines (TSE:IVN) had its target price trimmed by Scotiabank from C$21.00 to C$20.00 in a research note published on Thursday morning,BayStreet.CA reports. The firm currently has an outperform rating on the stock. Scotiabank also issued estimates for Ivanhoe Mines’ FY2024 earnings at $0.34 EPS and FY2025 earnings at $0.63 EPS.

A number of other research firms have also weighed in on IVN. TD Securities dropped their target price on Ivanhoe Mines from C$25.00 to C$24.00 and set a “buy” rating on the stock in a report on Thursday. Raymond James dropped their price target on shares of Ivanhoe Mines from C$25.00 to C$24.00 and set an “outperform” rating on the stock in a research report on Thursday. Eight equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, Ivanhoe Mines presently has an average rating of “Buy” and an average target price of C$24.00.

Ivanhoe Mines Trading Up 1.6 %

TSE:IVN opened at C$17.19 on Thursday. Ivanhoe Mines has a one year low of C$12.94 and a one year high of C$21.32. The company has a market cap of C$23.21 billion, a PE ratio of 107.44 and a beta of 1.94. The company has a debt-to-equity ratio of 4.24, a current ratio of 1.17 and a quick ratio of 20.86. The firm has a 50-day moving average of C$18.26 and a 200-day moving average of C$18.18.

Insider Buying and Selling

In other Ivanhoe Mines news, Director Martie Cloete sold 2,800 shares of the company’s stock in a transaction dated Friday, November 8th. The shares were sold at an average price of C$18.56, for a total transaction of C$51,968.00. Also, Director Jinghe Chen sold 60,288 shares of Ivanhoe Mines stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of C$19.00, for a total transaction of C$1,145,472.00. In the last quarter, insiders have sold 68,088 shares of company stock valued at $1,292,379. 44.96% of the stock is owned by company insiders.

Ivanhoe Mines Company Profile

Ivanhoe Mines Ltd. engages in the mining, development, and exploration of minerals and precious metals primarily in Africa. It explores for platinum, palladium, nickel, copper, gold, rhodium, zinc, silver, germanium, and lead deposits. The company's projects include the Platreef project located in the Northern Limb of South Africa's Bushveld Complex; the Kipushi project located in Haut-Katanga Province, Democratic Republic of Congo; and the Kamoa-Kakula project located within the Central African Copperbelt.