Ivanhoe Mines (TSE:IVN) Price Target Raised to C$17.00

Ivanhoe Mines (TSE:IVN) had its price target raised by Stifel Nicolaus from C$15.00 to C$17.00 in a research note issued to investors on Wednesday,BayStreet reports. The brokerage currently has a buy rating on the stock.

A number of other research firms have also recently weighed in on IVN. Canaccord Genuity Group upgraded Ivanhoe Mines from a “hold” rating to a “buy” rating and increased their price target for the company from C$12.00 to C$13.00 in a research note on Tuesday, July 21st. Morgan Stanley upgraded shares of Ivanhoe Mines from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from C$12.00 to C$13.20 in a report on Wednesday, July 8th. Finally, Scotiabank upped their price objective on shares of Ivanhoe Mines from C$13.00 to C$13.50 and gave the company a “sector perform” rating in a report on Monday, June 15th. Five investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, Ivanhoe Mines presently has an average rating of “Moderate Buy” and an average price target of C$14.72.

Ivanhoe Mines Trading Up 0.2%

Shares of TSE:IVN opened at C$12.80 on Wednesday. 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. The company has a market capitalization of C$18.26 billion, a P/E ratio of 142.22 and a beta of 1.58. The company has a 50-day simple moving average of C$11.30 and a 200 day simple moving average of C$11.75.

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

Ivanhoe Mines Company Profile

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.