CIBC Cuts Ivanhoe Mines (IVN) Price Target to C$2.90

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Ivanhoe Mines (TSE:IVN) had its target price trimmed by CIBC from C$3.50 to C$2.90 in a research report released on Thursday.

A number of other brokerages have also weighed in on IVN. TD Securities dropped their price objective on Ivanhoe Mines from C$7.00 to C$6.50 and set a speculative buy rating on the stock in a report on Tuesday, June 12th. Raymond James dropped their price objective on Ivanhoe Mines from C$6.50 to C$5.75 and set an outperform rating on the stock in a report on Tuesday, June 12th. Finally, Royal Bank of Canada dropped their price objective on Ivanhoe Mines from C$6.00 to C$5.00 and set an outperform rating on the stock in a report on Wednesday, June 13th. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Ivanhoe Mines currently has a consensus rating of Buy and a consensus target price of C$5.98.

Shares of IVN stock opened at C$2.05 on Thursday. Ivanhoe Mines has a 1-year low of C$2.01 and a 1-year high of C$5.01.

In other Ivanhoe Mines news, Director Louis Kabamba Watum sold 49,600 shares of the business’s 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. Also, Director Setha Patricia Makhesha sold 50,000 shares of the business’s stock in a transaction on Monday, June 18th. The stock was sold at an average price of C$2.94, for a total value of C$147,000.00. Insiders have sold 149,600 shares of company stock worth $424,948 in the last ninety 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 in the Democratic Republic of Congo (DRC).

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Analyst Recommendations for Ivanhoe Mines (TSE:IVN)

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