Ivanhoe Mines (TSE:IVN) Price Target Raised to C$19.00 at Scotiabank

Ivanhoe Mines (TSE:IVN) had its price target increased by Scotiabank from C$18.00 to C$19.00 in a research report sent to investors on Wednesday, BayStreet.CA reports. They currently have an outperform rating on the stock.

A number of other equities analysts also recently commented on the stock. Bank of America lifted their target price on shares of Ivanhoe Mines from C$15.50 to C$21.00 in a research note on Tuesday, April 9th. Eight Capital lifted their price target on shares of Ivanhoe Mines from C$19.00 to C$30.00 in a research report on Monday, April 22nd. TD Securities lifted their price target on shares of Ivanhoe Mines from C$17.00 to C$17.50 and gave the company a buy rating in a research report on Wednesday, February 28th. Canaccord Genuity Group lifted their price target on shares of Ivanhoe Mines from C$16.00 to C$21.00 in a research report on Wednesday, April 17th. Finally, Royal Bank of Canada lifted their price target on shares of Ivanhoe Mines from C$19.00 to C$22.00 and gave the company an outperform rating in a research report on Wednesday. Six investment analysts have rated the stock with a buy rating, According to MarketBeat, Ivanhoe Mines has a consensus rating of Buy and a consensus target price of C$21.81.

Ivanhoe Mines Price Performance

Shares of IVN stock opened at C$18.60 on Wednesday. The company has a debt-to-equity ratio of 18.08, a current ratio of 3.28 and a quick ratio of 20.86. The firm’s 50-day moving average is C$16.60 and its two-hundred day moving average is C$13.90. Ivanhoe Mines has a 12 month low of C$9.89 and a 12 month high of C$20.66. The company has a market capitalization of C$23.62 billion, a PE ratio of 51.67 and a beta of 2.01.

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

Insider Activity at Ivanhoe Mines

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. Company 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.