Canaccord Genuity Group Issues Positive Forecast for Ivanhoe Mines (TSE:IVN) Stock Price

Ivanhoe Mines (TSE:IVN) had its price objective raised by research analysts at Canaccord Genuity Group from C$13.00 to C$15.00 in a research report issued to clients and investors on Wednesday, BayStreet reports. The brokerage presently has a “buy” rating on the stock. Canaccord Genuity Group’s price objective points to a potential upside of 11.11% from the stock’s previous close.

IVN has been the topic of several other reports. Morgan Stanley raised shares of Ivanhoe Mines from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from C$12.00 to C$13.20 in a research note on Wednesday, July 8th. Scotiabank boosted 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 report on Monday, June 15th. Finally, Stifel Nicolaus upped their target price on shares of Ivanhoe Mines from C$15.00 to C$17.00 and gave the stock a “buy” rating in a research note on Wednesday. Five research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of C$14.72.

Ivanhoe Mines Trading Up 1.6%

Shares of Ivanhoe Mines stock traded up C$0.21 on Wednesday, reaching C$13.50. The company had a trading volume of 6,071,574 shares, compared to its average volume of 4,433,857. The firm’s 50 day moving average price is C$11.17 and its two-hundred day moving average price is C$11.78. The firm has a market cap of C$19.26 billion, a PE ratio of 150.00 and a beta of 1.58. Ivanhoe Mines has a 52-week low of C$9.45 and a 52-week high of C$20.34. The company has a debt-to-equity ratio of 21.70, a quick ratio of 20.86 and a current ratio of 2.16.

Ivanhoe Mines (TSE:IVN) last issued its quarterly earnings data on Wednesday, July 29th. The company reported C$0.04 EPS for the quarter. The firm had revenue of C$216.83 million for the quarter. Ivanhoe Mines had a net margin of 23.46% and a return on equity of 2.32%. Sell-side analysts predict that Ivanhoe Mines will post 1.0136483 earnings per share for the current fiscal year.

About Ivanhoe Mines

Ivanhoe Mines is a Canadian mining company focused on advancing its three principal operations in Southern Africa; the Kamoa-Kakula Copper Complex in the DRC, the ultra-high-grade Kipushi zinc-copper-germanium-silver mine, also in the DRC; and the tier-one Platreef platinum-palladium-nickel-rhodium-gold-copper mine in South Africa. Ivanhoe Mines is exploring for copper in its highly prospective, 54-100% owned exploration licences in the Western Forelands, covering an area over six times larger than the adjacent Kamoa-Kakula Copper Complex, including the high-grade discoveries in the Makoko District.