Ivanhoe Mines (TSE:IVN) Rating Increased to Buy at Canaccord Genuity Group

Canaccord Genuity Group upgraded shares of Ivanhoe Mines (TSE:IVN) from a hold rating to a buy rating in a report issued on Tuesday,BayStreet.CA reports. Canaccord Genuity Group currently has C$13.00 price objective on the stock, up from their prior price objective of C$12.00.

A number of other equities research analysts also recently weighed in on IVN. TD Securities dropped their price target on shares of Ivanhoe Mines from C$19.00 to C$13.00 and set a “buy” rating for the company in a research report on Wednesday, April 1st. Raymond James Financial downgraded Ivanhoe Mines from a “moderate buy” rating to a “hold” rating and reduced their price target for the stock from C$23.00 to C$17.00 in a research report on Wednesday, April 1st. Citigroup reduced their price target on Ivanhoe Mines from C$18.00 to C$13.00 and set a “buy” rating on the stock in a research report on Thursday, April 9th. Scotiabank raised their price objective on Ivanhoe Mines from C$13.00 to C$13.50 and gave the stock a “sector perform” rating in a research note on Monday, June 15th. Finally, Royal Bank Of Canada cut Ivanhoe Mines from a “moderate buy” rating to a “hold” rating in a report on Monday, April 6th. Five research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of C$14.41.

Ivanhoe Mines Price Performance

Shares of Ivanhoe Mines stock opened at C$10.77 on Tuesday. The company has a quick ratio of 20.86, a current ratio of 2.33 and a debt-to-equity ratio of 21.02. The stock has a market capitalization of C$15.36 billion, a price-to-earnings ratio of 119.67 and a beta of 1.58. Ivanhoe Mines has a twelve month low of C$9.45 and a twelve month high of C$20.34. The company has a 50-day simple moving average of C$11.33 and a two-hundred day simple moving average of C$13.11.

Insider Buying and Selling

In other Ivanhoe Mines news, Director Setha Patricia Makhesha sold 5,200 shares of the firm’s stock in a transaction dated Thursday, May 21st. The shares were sold at an average price of C$11.45, for a total value of C$59,540.00. Following the transaction, the director directly owned 77,922 shares of the company’s stock, valued at C$892,206.90. This trade represents a 6.26% decrease in their position. Over the last 90 days, insiders have sold 10,000 shares of company stock valued at $114,554. 44.96% of the stock is owned by company insiders.

About Ivanhoe Mines

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. It operates in four segments: Platreef property, Kamoa Holding joint venture, Kipushi properties, and the Company’s treasury offices.