Ivanhoe Mines Ltd. (TSE:IVN) Receives C$24.20 Consensus Price Target from Brokerages

Ivanhoe Mines Ltd. (TSE:IVN) has been assigned a consensus recommendation of “Buy” from the eight research firms that are currently covering the stock, MarketBeat Ratings reports. Eight research analysts have rated the stock with a buy rating. The average 1 year target price among brokerages that have covered the stock in the last year is C$24.20.

A number of brokerages have recently commented on IVN. Citigroup raised their price target on Ivanhoe Mines from C$15.00 to C$24.00 and gave the company a “buy” rating in a report on Thursday, June 20th. TD Securities raised their price target on Ivanhoe Mines from C$23.00 to C$25.00 in a report on Monday, July 22nd. Royal Bank of Canada lowered their price target on Ivanhoe Mines from C$25.00 to C$24.00 and set an “outperform” rating on the stock in a report on Tuesday, September 10th. Canaccord Genuity Group raised their price target on Ivanhoe Mines from C$24.00 to C$25.00 in a report on Monday, July 22nd. Finally, Jefferies Financial Group lifted their target price on Ivanhoe Mines from C$25.00 to C$26.00 in a report on Friday, July 12th.

Ivanhoe Mines Price Performance

Shares of TSE IVN opened at C$20.52 on Friday. Ivanhoe Mines has a 1-year low of C$9.89 and a 1-year high of C$21.32. The company has a debt-to-equity ratio of 4.24, a current ratio of 1.17 and a quick ratio of 20.86. The business’s fifty day moving average price is C$17.64 and its two-hundred day moving average price is C$18.14. The firm has a market capitalization of C$27.70 billion, a PE ratio of 128.25 and a beta of 1.93.

Ivanhoe Mines (TSE:IVN) last issued its quarterly earnings results on Wednesday, July 31st. The company reported C$0.08 EPS for the quarter, beating analysts’ consensus estimates of C$0.07 by C$0.01. On average, research analysts expect that Ivanhoe Mines will post 1.0362903 EPS for the current year.

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.