Ivanhoe Mines Ltd. (TSE:IVN) Given Consensus Recommendation of “Buy” by Brokerages

Ivanhoe Mines Ltd. (TSE:IVN) has received a consensus recommendation of “Buy” from the seven ratings firms that are covering the firm, MarketBeat.com reports. Seven equities research analysts have rated the stock with a buy rating. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is C$22.17.

IVN has been the subject of several analyst reports. Eight Capital upped their target price on Ivanhoe Mines from C$19.00 to C$30.00 in a report on Monday, April 22nd. Bank of America upped their price objective on shares of Ivanhoe Mines from C$15.50 to C$21.00 in a research note on Tuesday, April 9th. Raymond James lifted their target price on shares of Ivanhoe Mines from C$19.00 to C$21.00 in a research report on Tuesday, April 23rd. Canaccord Genuity Group boosted their price target on shares of Ivanhoe Mines from C$21.00 to C$22.00 and gave the company a “buy” rating in a report on Wednesday, May 1st. Finally, Jefferies Financial Group set a C$25.00 price objective on shares of Ivanhoe Mines and gave the stock a “buy” rating in a research note on Friday.

Insider Transactions at Ivanhoe Mines

In other Ivanhoe Mines news, Director Setha Patricia Makhesha sold 3,295 shares of Ivanhoe Mines 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 other Ivanhoe Mines news, Director Setha Patricia Makhesha sold 3,295 shares of the business’s 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. Also, Senior Officer Mary Vincelli sold 5,000 shares of the company’s stock in a transaction dated 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 Stock Performance

Shares of IVN opened at C$19.06 on Wednesday. The company has a debt-to-equity ratio of 18.08, a current ratio of 3.28 and a quick ratio of 20.86. The firm’s 50 day moving average is C$16.78 and its 200-day moving average is C$14.03. Ivanhoe Mines has a 12-month low of C$9.89 and a 12-month high of C$20.66. The stock has a market capitalization of C$24.21 billion, a P/E ratio of 52.94 and a beta of 2.01.

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

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.