Ivanhoe Mines (TSE:IVN) PT Raised to C$19.00

Ivanhoe Mines (TSE:IVN) had its price target upped by Scotiabank from C$18.00 to C$19.00 in a research note released on Wednesday morning, BayStreet.CA reports. Scotiabank currently has an outperform rating on the stock.

A number of other research analysts also recently weighed in on IVN. Canaccord Genuity Group raised their price objective on Ivanhoe Mines from C$16.00 to C$21.00 in a research note on Wednesday, April 17th. Raymond James raised their target price on Ivanhoe Mines from C$19.00 to C$21.00 in a report on Tuesday, April 23rd. Royal Bank of Canada raised their target price on Ivanhoe Mines from C$19.00 to C$22.00 and gave the company an outperform rating in a report on Wednesday. Bank of America raised their target price on Ivanhoe Mines from C$15.50 to C$21.00 in a report on Tuesday, April 9th. Finally, Eight Capital raised their target price on Ivanhoe Mines from C$19.00 to C$30.00 in a report on Monday, April 22nd. Seven investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has a consensus rating of Buy and a consensus target price of C$22.17.

Ivanhoe Mines Stock Up 1.9 %

Shares of IVN stock opened at C$19.06 on Wednesday. The stock’s 50 day simple moving average is C$16.78 and its 200 day simple moving average is C$14.01. The company has a debt-to-equity ratio of 18.08, a quick ratio of 20.86 and a current ratio of 3.28. Ivanhoe Mines has a twelve month low of C$9.89 and a twelve month high of C$20.66. The company has a market capitalization of C$24.21 billion, a price-to-earnings ratio of 52.94 and a beta of 2.01.

Ivanhoe Mines (TSE:IVN) last issued its quarterly earnings data on Monday, February 26th. The company reported C$0.03 earnings per share for the quarter, missing analysts’ consensus estimates of C$0.08 by C($0.05). As a group, research analysts predict that Ivanhoe Mines will post 0.4702621 EPS for the current year.

Insider Transactions at Ivanhoe Mines

In other news, Director Setha Patricia Makhesha sold 3,295 shares of Ivanhoe Mines stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of C$14.30, for a total transaction of C$47,102.03. In other news, Director Setha Patricia Makhesha sold 3,295 shares of Ivanhoe Mines stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of C$14.30, for a total transaction of C$47,102.03. Also, Senior Officer Mary Vincelli sold 5,000 shares of the firm’s stock in a transaction that occurred 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. 50.85% of the stock is owned by 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.