Ivanhoe Mines (TSE:IVN) Given New C$22.00 Price Target at Canaccord Genuity Group

Ivanhoe Mines (TSE:IVN) had its target price raised by Canaccord Genuity Group from C$21.00 to C$22.00 in a report published on Wednesday morning, BayStreet.CA reports. Canaccord Genuity Group currently has a buy rating on the stock.

A number of other research firms also recently issued reports on IVN. TD Securities lifted 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 lifted their price target on Ivanhoe Mines from C$18.00 to C$19.00 and gave the company an outperform rating in a research note on Wednesday. Royal Bank of Canada lifted their price target on Ivanhoe Mines from C$19.00 to C$22.00 and gave the company an outperform rating in a research note on Wednesday. Bank of America lifted their target price on shares of Ivanhoe Mines from C$15.50 to C$21.00 in a research report on Tuesday, April 9th. Finally, Raymond James lifted their target price on shares of Ivanhoe Mines from C$19.00 to C$21.00 in a research report on Tuesday, April 23rd. Six analysts have rated the stock with a buy rating, According to data from MarketBeat, Ivanhoe Mines has an average rating of Buy and a consensus target price of C$21.81.

Ivanhoe Mines Stock Performance

Shares of Ivanhoe Mines stock opened at C$18.60 on Wednesday. The company has a current ratio of 3.28, a quick ratio of 20.86 and a debt-to-equity ratio of 18.08. The business has a 50-day moving average price of C$16.60 and a two-hundred day moving average price of C$13.90. The company has a market cap of C$23.62 billion, a P/E ratio of 51.67 and a beta of 2.01. Ivanhoe Mines has a 1-year low of C$9.89 and a 1-year high of C$20.66.

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

Insider Buying and Selling

In related news, Director Setha Patricia Makhesha sold 3,295 shares of Ivanhoe Mines 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. In related news, Senior Officer Mary Vincelli sold 5,000 shares of Ivanhoe Mines stock in a transaction that occurred on Wednesday, March 13th. The shares were sold at an average price of C$15.47, for a total value of C$77,350.00. Also, Director Setha Patricia Makhesha sold 3,295 shares of Ivanhoe Mines 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 transaction of C$47,102.03. 50.85% of the stock is currently owned by 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.