Ivanhoe Mines (TSE:IVN) Price Target Raised to C$22.00 at BMO Capital Markets

Ivanhoe Mines (TSE:IVN) had its target price raised by BMO Capital Markets from C$18.00 to C$22.00 in a research report sent to investors on Wednesday, BayStreet.CA reports. BMO Capital Markets currently has an outperform rating on the stock.

A number of other equities research analysts have also commented on the company. Scotiabank raised their price objective on Ivanhoe Mines from C$18.00 to C$19.00 and gave the stock an outperform rating in a research report on Wednesday. Royal Bank of Canada boosted their price objective on shares of Ivanhoe Mines from C$19.00 to C$22.00 and gave the company an outperform rating in a research report on Wednesday. Eight Capital upped their price objective on shares of Ivanhoe Mines from C$19.00 to C$30.00 in a research note on Monday, April 22nd. Raymond James lifted their target price on shares of Ivanhoe Mines from C$19.00 to C$21.00 in a research note on Tuesday, April 23rd. Finally, Canaccord Genuity Group upped their price target on shares of Ivanhoe Mines from C$21.00 to C$22.00 and gave the stock a buy rating in a research note on Wednesday. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat, Ivanhoe Mines has a consensus rating of Buy and a consensus target price of C$21.81.

Ivanhoe Mines Trading Down 0.3 %

Ivanhoe Mines stock opened at C$18.60 on Wednesday. The company has a 50 day moving average price of C$16.60 and a 200 day moving average price of C$13.90. Ivanhoe Mines has a 52 week low of C$9.89 and a 52 week high of C$20.66. The company has a debt-to-equity ratio of 18.08, a quick ratio of 20.86 and a current ratio of 3.28. The firm has a market capitalization of C$23.62 billion, a price-to-earnings ratio of 51.67 and a beta of 2.01.

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). Research analysts forecast 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 the firm’s stock in a transaction on Thursday, February 29th. The shares were sold at an average price of C$14.30, for a total transaction of C$47,102.03. In related news, Senior Officer Mary Vincelli sold 5,000 shares of Ivanhoe Mines 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. Also, Director Setha Patricia Makhesha sold 3,295 shares of Ivanhoe Mines stock in a transaction 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. 50.85% 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.