Canaccord Genuity Group Forecasts Strong Price Appreciation for Ivanhoe Mines (TSE:IVN) Stock

Ivanhoe Mines (TSE:IVN) had its target price upped by analysts at Canaccord Genuity Group from C$14.00 to C$16.50 in a report issued on Wednesday,BayStreet.CA reports. The brokerage currently has a “buy” rating on the stock. Canaccord Genuity Group’s price target would suggest a potential upside of 13.17% from the company’s previous close.

IVN has been the topic of a number of other reports. Stifel Canada raised Ivanhoe Mines to a “strong-buy” rating in a research report on Tuesday, July 8th. Jefferies Financial Group reduced their price target on shares of Ivanhoe Mines from C$19.00 to C$17.00 in a research report on Thursday, June 12th. TD Securities increased their target price on Ivanhoe Mines from C$13.00 to C$16.00 and gave the stock a “buy” rating in a report on Monday. Raymond James Financial decreased their target price on Ivanhoe Mines from C$21.00 to C$20.00 in a research report on Thursday, August 21st. Finally, BMO Capital Markets reduced their price objective on Ivanhoe Mines from C$24.00 to C$21.00 in a research note on Friday, June 13th. One research analyst has rated the stock with a Strong Buy rating and six have assigned a Buy rating to the company. Based on data from MarketBeat.com, Ivanhoe Mines presently has a consensus rating of “Buy” and a consensus target price of C$16.75.

Ivanhoe Mines Stock Up 0.3%

Shares of TSE IVN opened at C$14.58 on Wednesday. The stock has a fifty day moving average price of C$12.22 and a 200 day moving average price of C$12.07. The company has a current ratio of 1.36, a quick ratio of 20.86 and a debt-to-equity ratio of 2.48. Ivanhoe Mines has a 12-month low of C$8.76 and a 12-month high of C$20.91. The company has a market cap of C$20.70 billion, a P/E ratio of 50.28 and a beta of 1.79.

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.