Ivanhoe Mines (TSE:IVN) Rating Increased to Buy at Canaccord Genuity Group

Ivanhoe Mines (TSE:IVN) was upgraded by Canaccord Genuity Group from a “hold” rating to a “buy” rating in a report released on Tuesday,BayStreet.CA reports. The firm currently has a C$13.00 price target on the stock, up from their prior price target of C$12.00. Canaccord Genuity Group’s price objective points to a potential upside of 21.38% from the company’s previous close.

IVN has been the subject of a number of other research reports. Scotiabank lifted their target price on shares of Ivanhoe Mines from C$13.00 to C$13.50 and gave the stock a “sector perform” rating in a report on Monday, June 15th. Citigroup cut their price target on Ivanhoe Mines from C$18.00 to C$13.00 and set a “buy” rating on the stock in a research note on Thursday, April 9th. BMO Capital Markets reduced their price target on Ivanhoe Mines from C$23.00 to C$16.00 in a research report on Wednesday, April 1st. Royal Bank Of Canada cut Ivanhoe Mines from a “moderate buy” rating to a “hold” rating in a research note on Monday, April 6th. Finally, Raymond James Financial downgraded Ivanhoe Mines from a “moderate buy” rating to a “hold” rating and dropped their price objective for the company from C$23.00 to C$17.00 in a report on Wednesday, April 1st. Five analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of C$14.41.

Ivanhoe Mines Trading Up 8.5%

Shares of IVN traded up C$0.84 during trading hours on Tuesday, hitting C$10.71. 2,255,476 shares of the stock traded hands, compared to its average volume of 4,497,590. The company has a current ratio of 2.33, a quick ratio of 20.86 and a debt-to-equity ratio of 21.02. Ivanhoe Mines has a 1-year low of C$9.45 and a 1-year high of C$20.34. The firm has a market capitalization of C$15.28 billion, a PE ratio of 119.00 and a beta of 1.58. The business has a fifty day moving average of C$11.37 and a 200-day moving average of C$13.15.

Insider Buying and Selling at Ivanhoe Mines

In other news, Director Setha Patricia Makhesha sold 5,200 shares of the business’s stock in a transaction on Thursday, May 21st. The shares were sold at an average price of C$11.45, for a total value of C$59,540.00. Following the completion of the transaction, the director owned 77,922 shares of the company’s stock, valued at C$892,206.90. The trade was a 6.26% decrease in their position. Insiders have sold 10,000 shares of company stock worth $114,554 over the last quarter. Company insiders own 44.96% of the company’s stock.

Ivanhoe Mines Company Profile

Ivanhoe Mines Ltd is a mineral exploration and development company. The company, together with its subsidiaries, explores, develops, and recovers minerals and precious gems from its property interests located in Africa. The group explores platinum, nickel, copper, gold, silver, cobalt, iron, vanadium, and chrome. It operates in four segments: Platreef property, Kamoa Holding joint venture, Kipushi properties, and the Company’s treasury offices.