Scotiabank Upgrades Ivanhoe Mines (TSE:IVN) to “Outperform”

Scotiabank upgraded shares of Ivanhoe Mines (TSE:IVN) from a hold rating to an outperform rating in a research note published on Monday morning, MarketBeat reports. The brokerage currently has C$17.00 price objective on the stock, up from their prior price objective of C$12.50.

A number of other equities analysts have also issued reports on IVN. UBS Group decreased their price objective on Ivanhoe Mines from C$17.00 to C$15.00 in a report on Thursday, June 12th. Stifel Canada upgraded Ivanhoe Mines to a “strong-buy” rating in a research report on Tuesday, July 8th. TD Securities cut their target price on Ivanhoe Mines from C$16.00 to C$13.00 and set a “buy” rating for the company in a research report on Friday, June 13th. Jefferies Financial Group cut their target price on Ivanhoe Mines from C$19.00 to C$17.00 in a research report on Thursday, June 12th. Finally, Canaccord Genuity Group cut their price objective on Ivanhoe Mines from C$24.00 to C$12.00 in a research report on Friday, June 13th. One analyst has rated the stock with a Strong Buy rating and six have issued a Buy rating to the company’s stock. Based on data from MarketBeat, Ivanhoe Mines presently has a consensus rating of “Buy” and a consensus target price of C$16.75.

Ivanhoe Mines Stock Performance

Shares of IVN stock opened at C$14.54 on Monday. Ivanhoe Mines has a 12-month low of C$8.76 and a 12-month high of C$20.91. The firm has a market capitalization of C$19.69 billion, a price-to-earnings ratio of 50.14 and a beta of 1.79. The business has a 50 day simple moving average of C$12.16 and a 200 day simple moving average of C$12.07. The company has a debt-to-equity ratio of 2.48, a current ratio of 1.36 and a quick ratio of 20.86.

Ivanhoe Mines Company Profile

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.