Ivanhoe Mines Ltd. (TSE:IVN – Get Free Report) dropped 5.6% on Wednesday . The stock traded as low as C$17.88 and last traded at C$17.92. Approximately 221,899 shares changed hands during trading, a decline of 90% from the average daily volume of 2,231,601 shares. The stock had previously closed at C$18.99.
Wall Street Analysts Forecast Growth
IVN has been the subject of a number of research analyst reports. TD Securities upped their price target on Ivanhoe Mines from C$23.00 to C$25.00 in a report on Monday, July 22nd. Jefferies Financial Group upped their target price on shares of Ivanhoe Mines from C$25.00 to C$26.00 in a report on Friday, July 12th. Royal Bank of Canada lifted their price target on shares of Ivanhoe Mines from C$19.00 to C$22.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 1st. Canaccord Genuity Group upped their price objective on shares of Ivanhoe Mines from C$24.00 to C$25.00 in a research note on Monday, July 22nd. Finally, BMO Capital Markets raised their price objective on Ivanhoe Mines from C$18.00 to C$22.00 and gave the stock an “outperform” rating in a report on Wednesday, May 1st. Nine equities research analysts have rated the stock with a buy rating, According to MarketBeat, Ivanhoe Mines has an average rating of “Buy” and a consensus target price of C$24.00.
Ivanhoe Mines Stock Down 7.3 %
Ivanhoe Mines (TSE:IVN – Get Free Report) last posted its quarterly earnings data on Wednesday, July 31st. The company reported C$0.08 EPS for the quarter, beating the consensus estimate of C$0.07 by C$0.01. On average, equities research analysts forecast that Ivanhoe Mines Ltd. will post 0.5874016 earnings per share for the current fiscal year.
Insider Transactions at Ivanhoe Mines
In related news, Senior Officer Mary Vincelli sold 3,600 shares of Ivanhoe Mines stock in a transaction on Thursday, June 20th. The shares were sold at an average price of C$17.96, for a total value of C$64,639.80. In other Ivanhoe Mines news, insider CITIC Metal Africa Investments Limited sold 248,314 shares of the business’s stock in a transaction that occurred on Thursday, June 13th. The stock was sold at an average price of C$17.32, for a total transaction of C$4,300,723.99. Also, Senior Officer Mary Vincelli sold 3,600 shares of the firm’s stock in a transaction that occurred on Thursday, June 20th. The shares were sold at an average price of C$17.96, for a total value of C$64,639.80. Insiders sold 12,064,614 shares of company stock worth $210,024,706 over the last 90 days. 45.03% of the stock is currently owned by insiders.
About Ivanhoe Mines
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.
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