Ivanhoe Mines (TSE:IVN) Price Target Raised to C$21.00 at Raymond James

Ivanhoe Mines (TSE:IVN) had its target price raised by Raymond James from C$19.00 to C$21.00 in a note issued to investors on Tuesday, BayStreet.CA reports. Raymond James’ price objective suggests a potential upside of 14.38% from the company’s previous close.

Other equities research analysts have also recently issued research reports about the company. Canaccord Genuity Group upped their price target on Ivanhoe Mines from C$16.00 to C$21.00 in a research note on Wednesday, April 17th. Eight Capital upped their price target on Ivanhoe Mines from C$19.00 to C$30.00 in a research note on Monday. TD Securities upped their price target on Ivanhoe Mines from C$17.00 to C$17.50 and gave the stock a “buy” rating in a research note on Wednesday, February 28th. Finally, Bank of America upped their price target on Ivanhoe Mines from C$15.50 to C$21.00 in a research note on Tuesday, April 9th. Five analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of C$19.94.

Ivanhoe Mines Stock Performance

Shares of IVN stock traded down C$0.67 during trading hours on Tuesday, hitting C$18.36. The stock had a trading volume of 5,250,511 shares, compared to its average volume of 2,109,240. The firm has a market capitalization of C$23.32 billion, a PE ratio of 51.22 and a beta of 2.00. Ivanhoe Mines has a twelve month low of C$9.89 and a twelve month high of C$19.99. The stock’s 50 day moving average is C$15.93 and its 200 day moving average is C$13.53. The company has a debt-to-equity ratio of 18.08, a current ratio of 3.28 and a quick ratio of 20.86.

Ivanhoe Mines (TSE:IVN) last posted its quarterly earnings data on Monday, February 26th. The company reported C$0.03 earnings per share for the quarter, missing the consensus estimate of C$0.08 by C($0.05). As a group, research analysts forecast that Ivanhoe Mines will post 0.5149972 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Ivanhoe Mines news, Senior Officer Mary Vincelli sold 5,000 shares of the stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of C$15.47, for a total value of C$77,350.00. In other Ivanhoe Mines news, Director Setha Patricia Makhesha sold 3,295 shares of the company’s stock in a transaction on Thursday, February 29th. The stock was sold at an average price of C$14.30, for a total value of C$47,102.03. Also, Senior Officer Mary Vincelli sold 5,000 shares of the company’s stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of C$15.47, for a total value of C$77,350.00. 50.86% of the stock is currently owned by company insiders.

Ivanhoe Mines Company Profile

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.