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

Ivanhoe Mines (TSE:IVN) had its price target increased by Canaccord Genuity Group from C$16.00 to C$21.00 in a research report released on Wednesday, BayStreet.CA reports.

A number of other brokerages have also weighed in on IVN. TD Securities upped their price objective on Ivanhoe Mines from C$17.00 to C$17.50 and gave the stock a buy rating in a report on Wednesday, February 28th. Bank of America upped their price objective on Ivanhoe Mines from C$15.50 to C$21.00 in a report on Tuesday, April 9th. Finally, Raymond James boosted their target price on Ivanhoe Mines from C$18.00 to C$19.00 in a research report on Wednesday, March 20th. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company presently has an average rating of Buy and an average target price of C$18.31.

Ivanhoe Mines Trading Down 0.8 %

TSE:IVN opened at C$19.21 on Wednesday. The firm has a market cap of C$24.40 billion, a P/E ratio of 53.36 and a beta of 2.00. The company has a current ratio of 3.28, a quick ratio of 20.86 and a debt-to-equity ratio of 18.08. The stock’s 50 day simple moving average is C$15.84 and its 200-day simple moving average is C$13.44. Ivanhoe Mines has a 12-month low of C$9.89 and a 12-month high of C$19.99.

Ivanhoe Mines (TSE:IVN) last released its earnings results on Monday, February 26th. The company reported C$0.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of C$0.08 by C($0.05). Equities analysts anticipate that Ivanhoe Mines will post 0.5149972 EPS for the current year.

Insider Activity

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

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.