Ivanhoe Mines (TSE:IVN) Given New C$21.00 Price Target at Canaccord Genuity Group

Ivanhoe Mines (TSE:IVN) had its price objective hoisted by Canaccord Genuity Group from C$16.00 to C$21.00 in a report issued on Wednesday morning, BayStreet.CA reports.

IVN has been the topic of several other reports. Bank of America boosted their price objective on shares of Ivanhoe Mines from C$15.50 to C$21.00 in a report on Tuesday, April 9th. Raymond James lifted their target price on Ivanhoe Mines from C$18.00 to C$19.00 in a research report on Wednesday, March 20th. Finally, TD Securities lifted their target price on Ivanhoe Mines from C$17.00 to C$17.50 and gave the company a buy rating in a research report on Wednesday, February 28th. Five equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, Ivanhoe Mines currently has a consensus rating of Buy and an average price target of C$18.31.

Ivanhoe Mines Stock Up 2.2 %

TSE IVN opened at C$19.33 on Wednesday. Ivanhoe Mines has a 52 week low of C$9.89 and a 52 week high of C$19.63. The company has a quick ratio of 20.86, a current ratio of 3.28 and a debt-to-equity ratio of 18.08. The business’s fifty day simple moving average is C$15.63 and its 200-day simple moving average is C$13.34. The firm has a market cap of C$24.55 billion, a PE ratio of 53.69 and a beta of 2.00.

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

Insider Transactions at Ivanhoe Mines

In other 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 transaction of C$47,102.03. In other 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 transaction of C$47,102.03. Also, Senior Officer Mary Vincelli sold 5,000 shares of the business’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. Over the last ninety days, insiders sold 10,784 shares of company stock valued at $157,394. 50.86% of the stock is currently owned by corporate insiders.

About Ivanhoe Mines

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.