Ivanhoe Mines Ltd. (TSE:IVN) Receives C$21.81 Average PT from Brokerages

Shares of Ivanhoe Mines Ltd. (TSE:IVN) have received an average rating of “Buy” from the seven brokerages that are presently covering the company, MarketBeat Ratings reports. Seven investment analysts have rated the stock with a buy recommendation. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is C$22.17.

Several brokerages recently issued reports on IVN. TD Securities upped their target price on 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. Jefferies Financial Group set a C$25.00 price objective on shares of Ivanhoe Mines and gave the company a “buy” rating in a report on Friday. BMO Capital Markets increased their price objective on shares of Ivanhoe Mines from C$18.00 to C$22.00 and gave the company an “outperform” rating in a research report on Wednesday, May 1st. Eight Capital upped their price target on shares of Ivanhoe Mines from C$19.00 to C$30.00 in a research note on Monday, April 22nd. Finally, Raymond James raised their price target on shares of Ivanhoe Mines from C$19.00 to C$21.00 in a report on Tuesday, April 23rd.

Insider Activity at Ivanhoe Mines

In other news, Director Setha Patricia Makhesha sold 3,295 shares of the firm’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 value of C$47,102.03. In other news, Director Setha Patricia Makhesha sold 3,295 shares of the stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of C$14.30, for a total value of C$47,102.03. Also, Senior Officer Mary Vincelli sold 5,000 shares of the firm’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. 50.85% of the stock is currently owned by corporate insiders.

Ivanhoe Mines Price Performance

TSE IVN opened at C$19.06 on Wednesday. The company has a market cap of C$24.21 billion, a PE ratio of 52.94 and a beta of 2.01. The firm’s 50 day moving average price is C$16.78 and its 200-day moving average price is C$14.03. The company has a debt-to-equity ratio of 18.08, a quick ratio of 20.86 and a current ratio of 3.28. Ivanhoe Mines has a 52-week low of C$9.89 and a 52-week 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 EPS for the quarter, missing the consensus estimate of C$0.08 by C($0.05). Sell-side analysts forecast that Ivanhoe Mines will post 0.4702621 EPS for the current fiscal year.

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.