Ivanhoe Mines (TSE:IVN) Reaches New 1-Year High at $20.23

Ivanhoe Mines Ltd. (TSE:IVN) reached a new 52-week high during mid-day trading on Friday . The stock traded as high as C$20.23 and last traded at C$20.15, with a volume of 1454248 shares changing hands. The stock had previously closed at C$19.22.

Analyst Ratings Changes

Several research analysts have issued reports on IVN shares. Bank of America upped their price target on Ivanhoe Mines from C$15.50 to C$21.00 in a report on Tuesday, April 9th. TD Securities lifted their price objective on shares of Ivanhoe Mines from C$17.00 to C$17.50 and gave the stock a “buy” rating in a research report on Wednesday, February 28th. Canaccord Genuity Group lifted their price objective on shares of Ivanhoe Mines from C$16.00 to C$21.00 in a research report on Wednesday, April 17th. Raymond James lifted their price objective on shares of Ivanhoe Mines from C$19.00 to C$21.00 in a research report on Tuesday, April 23rd. Finally, Eight Capital lifted their price objective on shares of Ivanhoe Mines from C$19.00 to C$30.00 in a research report on Monday, April 22nd. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of C$19.94.

Ivanhoe Mines Price Performance

The stock has a market capitalization of C$25.86 billion, a P/E ratio of 56.56 and a beta of 2.00. The stock’s fifty day moving average is C$16.31 and its 200-day moving average is C$13.73. The company has a debt-to-equity ratio of 18.08, a current ratio of 3.28 and a quick ratio of 20.86.

Ivanhoe Mines (TSE:IVN) last issued its quarterly earnings data 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). On average, equities analysts anticipate that Ivanhoe Mines Ltd. will post 0.5149972 earnings per share for the current year.

Insiders Place Their Bets

In other Ivanhoe Mines news, Senior Officer Mary Vincelli sold 5,000 shares of the business’s stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of C$15.47, for a total transaction of C$77,350.00. In other news, Senior Officer Mary Vincelli sold 5,000 shares of the company’s stock in a transaction dated Wednesday, March 13th. The shares were 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 company’s stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of C$14.30, for a total transaction of C$47,102.03. Company insiders own 50.86% of the company’s stock.

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.