Ivanhoe Mines Ltd. (TSE:IVN) Receives C$21.81 Average Price Target from Brokerages

Shares of Ivanhoe Mines Ltd. (TSE:IVN) have earned an average recommendation of “Buy” from the seven analysts that are presently covering the stock, Marketbeat.com reports. Seven research analysts have rated the stock with a buy recommendation. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is C$22.17.

A number of analysts have recently commented on the stock. Raymond James boosted their price objective on shares of Ivanhoe Mines from C$19.00 to C$21.00 in a research report on Tuesday, April 23rd. TD Securities raised their price target on Ivanhoe Mines from C$17.00 to C$17.50 and gave the company a “buy” rating in a research note on Wednesday, February 28th. Scotiabank upped their price objective on Ivanhoe Mines from C$18.00 to C$19.00 and gave the stock an “outperform” rating in a research note on Wednesday. BMO Capital Markets lifted their price objective on shares of Ivanhoe Mines from C$18.00 to C$22.00 and gave the company an “outperform” rating in a research report on Wednesday. Finally, Jefferies Financial Group set a C$25.00 target price on shares of Ivanhoe Mines and gave the company a “buy” rating in a report on Friday.

Ivanhoe Mines Price Performance

IVN opened at C$19.06 on Wednesday. The company has a fifty day simple moving average of C$16.78 and a 200 day simple moving average of C$13.99. 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 stock has a market cap of C$24.21 billion, a P/E ratio of 52.94 and a beta of 2.01. Ivanhoe Mines has a 12 month low of C$9.89 and a 12 month high of C$20.66.

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

Insider Activity

In other Ivanhoe Mines news, Director Setha Patricia Makhesha sold 3,295 shares of the firm’s stock in a transaction 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, 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 value of C$47,102.03. Also, Senior Officer Mary Vincelli sold 5,000 shares of the business’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. Corporate insiders own 50.85% of the company’s stock.

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.