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

Ivanhoe Mines (TSE:IVN) had its price objective lifted by BMO Capital Markets from C$18.00 to C$22.00 in a research report issued to clients and investors on Wednesday, BayStreet.CA reports. The firm presently has an “outperform” rating on the stock. BMO Capital Markets’ price target suggests a potential upside of 17.58% from the company’s previous close.

Several other equities analysts also recently weighed in on the company. Scotiabank boosted their target price on Ivanhoe Mines from C$18.00 to C$19.00 and gave the company an “outperform” rating in a research report on Wednesday. Canaccord Genuity Group upped their target price 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. Bank of America lifted their price objective on Ivanhoe Mines from C$15.50 to C$21.00 in a report on Tuesday, April 9th. Raymond James increased their target price on Ivanhoe Mines from C$19.00 to C$21.00 in a research report on Tuesday, April 23rd. Finally, Eight Capital increased their price target on shares of Ivanhoe Mines from C$19.00 to C$30.00 in a research report on Monday, April 22nd. Six research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of C$21.81.

Ivanhoe Mines Trading Up 0.6 %

TSE:IVN opened at C$18.71 on Wednesday. The business has a fifty day moving average price of C$16.69 and a 200-day moving average price of C$13.94. The firm has a market capitalization of C$23.76 billion, a price-to-earnings ratio of 51.97 and a beta of 2.01. Ivanhoe Mines has a one year low of C$9.89 and a one year high of C$20.66. 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 posted its quarterly earnings results on Monday, February 26th. The company reported C$0.03 earnings per share for the quarter, missing the consensus estimate of C$0.08 by C($0.05). Sell-side analysts forecast that Ivanhoe Mines will post 0.4702621 EPS for the current year.

Insiders Place Their Bets

In related news, Director Setha Patricia Makhesha sold 3,295 shares of the stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of C$14.30, for a total value of C$47,102.03. In other Ivanhoe Mines news, Senior Officer Mary Vincelli sold 5,000 shares of the company’s stock in a transaction on Wednesday, March 13th. The stock was 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 firm’s stock in a transaction that occurred 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. 50.85% of the stock is currently owned by corporate 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.