Ivanhoe Mines Ltd (TSE:IVN) shares reached a new 52-week low on Wednesday . The stock traded as low as C$2.08 and last traded at C$2.13, with a volume of 1100710 shares changing hands. The stock had previously closed at C$2.27.
IVN has been the subject of several research analyst reports. Raymond James reduced their price target on shares of Ivanhoe Mines from C$6.50 to C$5.75 and set an “outperform” rating for the company in a report on Tuesday, June 12th. Royal Bank of Canada reduced their price target on shares of Ivanhoe Mines from C$6.00 to C$5.00 and set an “outperform” rating for the company in a report on Wednesday, June 13th. CIBC reduced their price target on shares of Ivanhoe Mines from C$3.50 to C$2.90 in a report on Thursday. Finally, TD Securities reduced their price target on shares of Ivanhoe Mines from C$7.00 to C$6.50 and set a “speculative buy” rating for the company in a report on Tuesday, June 12th. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of C$5.98.
In related news, Director Setha Patricia Makhesha sold 50,000 shares of the stock in a transaction on Monday, June 18th. The shares were sold at an average price of C$2.94, for a total transaction of C$147,000.00. Also, Director Louis Kabamba Watum sold 49,600 shares of the stock in a transaction on Thursday, July 12th. The stock was sold at an average price of C$2.63, for a total transaction of C$130,448.00. Insiders have sold 149,600 shares of company stock valued at $424,948 in the last 90 days.
Ivanhoe Mines Ltd. engages in the exploration, development, and recovery of minerals and precious metals located primarily in Africa. The company explores for platinum, palladium, nickel, copper, gold, rhodium, zinc, germanium, and lead deposits. Its projects include the Platreef project located in the Northern Limb of South Africa's Bushveld Complex; the Kipushi project located on the DRC's Copperbelt; and the Kamoa-Kakula project located within the Central African Copperbelt in the Democratic Republic of Congo (DRC).
See Also: Diversification in Your Portfolio
Receive News & Ratings for Ivanhoe Mines Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ivanhoe Mines and related companies with MarketBeat.com's FREE daily email newsletter.