Ivanhoe Mines (TSE:IVN) PT Raised to C$21.00 at Canaccord Genuity Group

Ivanhoe Mines (TSE:IVN) had its target price raised by equities research analysts at Canaccord Genuity Group from C$16.00 to C$21.00 in a research note issued to investors on Wednesday, BayStreet.CA reports. Canaccord Genuity Group’s price target points to a potential upside of 8.47% from the company’s previous close.

A number of other brokerages have also recently commented on IVN. TD Securities lifted their price target on Ivanhoe Mines from C$17.00 to C$17.50 and gave the stock a “buy” rating in a research report on Wednesday, February 28th. Raymond James lifted their price target on Ivanhoe Mines from C$18.00 to C$19.00 in a research report on Wednesday, March 20th. Finally, Bank of America lifted their price objective on Ivanhoe Mines from C$15.50 to C$21.00 in a research note on Tuesday, April 9th. Five equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Ivanhoe Mines currently has an average rating of “Buy” and a consensus target price of C$18.31.

Ivanhoe Mines Stock Performance

Shares of IVN opened at C$19.36 on Wednesday. The stock has a 50-day moving average of C$15.74 and a two-hundred day moving average of C$13.38. Ivanhoe Mines has a one year low of C$9.89 and a one year high of C$19.73. The company has a debt-to-equity ratio of 18.08, a quick ratio of 20.86 and a current ratio of 3.28. The stock has a market cap of C$24.59 billion, a P/E ratio of 53.78 and a beta of 2.00.

Ivanhoe Mines (TSE:IVN) last issued its quarterly 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). As a group, research analysts predict that Ivanhoe Mines will post 0.5149972 EPS for the current year.

Insider Activity at Ivanhoe Mines

In other Ivanhoe Mines news, Senior Officer Stephen Ralph Amos sold 2,489 shares of the business’s stock in a transaction that occurred on Saturday, January 20th. The stock was sold at an average price of C$13.24, for a total transaction of C$32,941.92. In other Ivanhoe Mines news, Director Setha Patricia Makhesha sold 3,295 shares of the business’s 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. Also, Senior Officer Stephen Ralph Amos sold 2,489 shares of the business’s stock in a transaction that occurred on Saturday, January 20th. The stock was sold at an average price of C$13.24, for a total value of C$32,941.92. Insiders sold a total of 10,784 shares of company stock worth $157,394 in the last 90 days. Corporate insiders own 50.86% 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.