Ivanhoe Mines (TSE:IVN) Price Target Lowered to C$4.30 at CIBC

Ivanhoe Mines (TSE:IVN) had its target price lowered by CIBC from C$4.50 to C$4.30 in a report issued on Friday morning, BayStreet.CA reports.

Several other analysts have also issued reports on IVN. Canaccord Genuity upped their price objective on Ivanhoe Mines from C$7.00 to C$7.50 in a research note on Monday, April 15th. Royal Bank of Canada upped their price objective on Ivanhoe Mines from C$6.00 to C$7.00 in a research note on Tuesday, July 30th.

TSE IVN traded down C$0.28 during trading hours on Friday, hitting C$3.72. 1,685,300 shares of the company traded hands, compared to its average volume of 908,119. The stock has a 50-day simple moving average of C$4.15. Ivanhoe Mines has a twelve month low of C$2.00 and a twelve month high of C$4.54. The company has a quick ratio of 24.63, a current ratio of 24.96 and a debt-to-equity ratio of 2.72. The stock has a market cap of $4.07 billion and a PE ratio of 100.54.

Ivanhoe Mines (TSE:IVN) last issued its quarterly earnings results on Wednesday, May 8th. The company reported C$0.01 EPS for the quarter, beating the consensus estimate of C($0.02) by C$0.03. As a group, research analysts forecast that Ivanhoe Mines will post 0.07 EPS for the current fiscal year.

In other Ivanhoe Mines news, Senior Officer Martin Forrester Bawlf sold 39,916 shares of the company’s stock in a transaction that occurred on Thursday, July 11th. The stock was sold at an average price of C$4.13, for a total value of C$164,853.08. Following the sale, the insider now owns 589,016 shares in the company, valued at C$2,432,636.08. Also, Director Martie Cloete sold 10,800 shares of the company’s stock in a transaction that occurred on Wednesday, May 15th. The shares were sold at an average price of C$3.30, for a total value of C$35,640.00. Following the completion of the sale, the director now owns 377,076 shares in the company, valued at approximately C$1,244,350.80. Insiders sold 71,616 shares of company stock worth $293,565 in the last 90 days.

Ivanhoe Mines Company Profile

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, as well as explores Western Foreland project in the Democratic Republic of Congo.

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