Ivanhoe Mines (TSE:IVN) Price Target Increased to C$19.00 by Analysts at Scotiabank

Ivanhoe Mines (TSE:IVN) had its target price hoisted by Scotiabank from C$18.00 to C$19.00 in a research note issued to investors on Wednesday morning, BayStreet.CA reports. Scotiabank currently has an outperform rating on the stock.

Several other research firms have also recently weighed in on IVN. Raymond James increased their target price on shares of Ivanhoe Mines from C$19.00 to C$21.00 in a research note on Tuesday, April 23rd. Royal Bank of Canada raised their price objective on Ivanhoe Mines from C$19.00 to C$22.00 and gave the stock an outperform rating in a research report on Wednesday. Eight Capital boosted their price objective on Ivanhoe Mines from C$19.00 to C$30.00 in a research report on Monday, April 22nd. Bank of America raised their target price on Ivanhoe Mines from C$15.50 to C$21.00 in a research report on Tuesday, April 9th. Finally, TD Securities boosted 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 report on Wednesday, February 28th. Seven research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company currently has an average rating of Buy and a consensus target price of C$22.17.

Ivanhoe Mines Stock Up 1.9 %

Shares of IVN stock opened at C$19.06 on Wednesday. The stock has a 50 day moving average of C$16.78 and a 200-day moving average of C$13.99. The firm has a market cap of C$24.21 billion, a PE ratio of 52.94 and a beta of 2.01. The company has a quick ratio of 20.86, a current ratio of 3.28 and a debt-to-equity ratio of 18.08. Ivanhoe Mines has a 12 month low of C$9.89 and a 12 month high of C$20.66.

Ivanhoe Mines (TSE:IVN) last released its 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). On average, equities analysts predict that Ivanhoe Mines will post 0.4702621 EPS for the current year.

Insider Buying and Selling

In other Ivanhoe Mines news, Senior Officer Mary Vincelli sold 5,000 shares of the company’s stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of C$15.47, for a total value of C$77,350.00. In related news, Senior Officer Mary Vincelli sold 5,000 shares of Ivanhoe Mines stock in a transaction dated Wednesday, March 13th. The shares were 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 business’s stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of C$14.30, for a total transaction of C$47,102.03. 50.85% of the stock is owned by corporate insiders.

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.