Ivanhoe Mines Ltd. (TSE:IVN – Get Free Report) has been given a consensus rating of “Hold” by the eight analysts that are currently covering the firm, Marketbeat.com reports. Five investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is C$14.60.
Several analysts recently commented on the stock. Citigroup cut their price objective on shares of Ivanhoe Mines from C$18.00 to C$13.00 and set a “buy” rating on the stock in a research report on Thursday, April 9th. Scotiabank downgraded shares of Ivanhoe Mines from an “outperform” rating to a “hold” rating and cut their price objective for the company from C$19.00 to C$14.50 in a research report on Wednesday, April 1st. Canaccord Genuity Group cut their price objective on shares of Ivanhoe Mines from C$15.00 to C$11.50 and set a “hold” rating on the stock in a research report on Monday, April 6th. Royal Bank Of Canada downgraded shares of Ivanhoe Mines from a “moderate buy” rating to a “hold” rating in a research report on Monday, April 6th. Finally, Raymond James Financial downgraded shares of Ivanhoe Mines from a “moderate buy” rating to a “hold” rating and cut their price objective for the company from C$23.00 to C$17.00 in a research report on Wednesday, April 1st.
Read Our Latest Stock Report on Ivanhoe Mines
Ivanhoe Mines Stock Down 11.0%
Insider Buying and Selling
In related news, Director Setha Patricia Makhesha sold 5,200 shares of the 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 sale, the director directly owned 77,922 shares of the company’s stock, valued at approximately C$892,206.90. This represents a 6.26% decrease in their position. Over the last quarter, insiders have sold 10,000 shares of company stock worth $114,554. Corporate 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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