Ivanhoe Mines Ltd. (TSE:IVN – Get Free Report) reached a new 52-week low during trading on Tuesday . The stock traded as low as C$10.00 and last traded at C$10.02, with a volume of 1556443 shares traded. The stock had previously closed at C$10.57.
Wall Street Analyst Weigh In
A number of equities analysts have weighed in on the company. Royal Bank Of Canada lowered Ivanhoe Mines from a “moderate buy” rating to a “hold” rating in a research report on Monday, April 6th. Scotiabank raised their price target on shares of Ivanhoe Mines from C$13.00 to C$13.50 and gave the company a “sector perform” rating in a report on Monday, June 15th. Raymond James Financial lowered shares of Ivanhoe Mines from a “moderate buy” rating to a “hold” rating and reduced their price target for the stock from C$23.00 to C$17.00 in a research note on Wednesday, April 1st. BMO Capital Markets decreased their price objective on shares of Ivanhoe Mines from C$23.00 to C$16.00 in a report on Wednesday, April 1st. Finally, TD Securities lowered their price objective on shares of Ivanhoe Mines from C$19.00 to C$13.00 and set a “buy” rating on the stock in a research report on Wednesday, April 1st. Three equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of C$14.38.
Read Our Latest Analysis on IVN
Ivanhoe Mines Stock Down 3.9%
Insider Activity
In other news, Director Setha Patricia Makhesha sold 5,200 shares of the company’s stock in a transaction dated Thursday, May 21st. The shares were sold at an average price of C$11.45, for a total transaction of C$59,540.00. Following the completion of the sale, the director owned 77,922 shares of the company’s stock, valued at C$892,206.90. This represents a 6.26% decrease in their position. In the last ninety days, insiders sold 10,000 shares of company stock worth $114,554. Insiders own 44.96% of the company’s stock.
About Ivanhoe Mines
Ivanhoe Mines Ltd is a mineral exploration and development company. The company, together with its subsidiaries, explores, develops, and recovers minerals and precious gems from its property interests located in Africa. The group explores platinum, nickel, copper, gold, silver, cobalt, iron, vanadium, and chrome. It operates in four segments: Platreef property, Kamoa Holding joint venture, Kipushi properties, and the Company’s treasury offices.
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