Ivanhoe Mines (TSE:IVN) Price Target Raised to C$22.00

Ivanhoe Mines (TSE:IVN) had its price objective increased by Royal Bank of Canada from C$19.00 to C$22.00 in a report released on Wednesday, BayStreet.CA reports. They currently have an outperform rating on the stock.

IVN has been the subject of several other research reports. Raymond James boosted their price target on shares of Ivanhoe Mines from C$19.00 to C$21.00 in a report on Tuesday, April 23rd. Eight Capital increased their price target on Ivanhoe Mines from C$19.00 to C$30.00 in a report on Monday, April 22nd. Bank of America lifted their price objective on Ivanhoe Mines from C$15.50 to C$21.00 in a report on Tuesday, April 9th. Canaccord Genuity Group increased their target price on Ivanhoe Mines from C$16.00 to C$21.00 in a research note on Wednesday, April 17th. Finally, TD Securities raised their target price on shares of Ivanhoe Mines from C$17.00 to C$17.50 and gave the stock a buy rating in a report on Wednesday, February 28th. Seven research analysts have rated the stock with a buy rating, According to MarketBeat, the stock has an average rating of Buy and an average target price of C$22.17.

Ivanhoe Mines Price Performance

Shares of IVN opened at C$19.06 on Wednesday. The stock has a market cap of C$24.21 billion, a P/E ratio of 52.94 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. The stock’s 50-day moving average price is C$16.78 and its two-hundred day moving average price is C$13.99. The company has a current ratio of 3.28, a quick ratio of 20.86 and a debt-to-equity ratio of 18.08.

Ivanhoe Mines (TSE:IVN) last released its quarterly earnings data on Monday, February 26th. The company reported C$0.03 earnings per share for the quarter, missing the consensus estimate of C$0.08 by C($0.05). On average, equities analysts predict that Ivanhoe Mines will post 0.4702621 earnings per share for the current year.

Insiders Place Their Bets

In related news, Senior Officer Mary Vincelli sold 5,000 shares of the stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of C$15.47, for a total transaction of C$77,350.00. In related news, Senior Officer Mary Vincelli sold 5,000 shares of the company’s stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of C$15.47, for a total transaction of C$77,350.00. Also, Director Setha Patricia Makhesha sold 3,295 shares of the 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. 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.