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

Ivanhoe Mines Ltd. (TSE:IVN) has received a consensus rating of “Buy” from the seven analysts that are covering the company, MarketBeat Ratings reports. Seven analysts have rated the stock with a buy rating. The average 1 year price objective among brokers that have covered the stock in the last year is C$22.17.

IVN has been the subject of several analyst reports. Eight Capital lifted their price target on shares of Ivanhoe Mines from C$19.00 to C$30.00 in a report on Monday, April 22nd. Scotiabank increased their price target on Ivanhoe Mines from C$18.00 to C$19.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 1st. Bank of America boosted their price objective on Ivanhoe Mines from C$15.50 to C$21.00 in a research note on Tuesday, April 9th. Jefferies Financial Group set a C$25.00 price objective on shares of Ivanhoe Mines and gave the stock a “buy” rating in a report on Friday, May 3rd. Finally, Raymond James upped their target price on shares of Ivanhoe Mines from C$19.00 to C$21.00 in a research report on Tuesday, April 23rd.

Ivanhoe Mines Stock Up 1.6 %

IVN opened at C$19.89 on Wednesday. Ivanhoe Mines has a twelve month low of C$9.89 and a twelve month high of C$20.66. 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 business has a 50 day moving average price of C$17.00 and a 200 day moving average price of C$14.16. The firm has a market cap of C$25.26 billion, a P/E ratio of 55.25 and a beta of 2.01.

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

Insider Transactions at Ivanhoe Mines

In related news, Senior Officer Mary Vincelli sold 5,000 shares of the stock in a transaction that occurred on Wednesday, March 13th. The shares were sold at an average price of C$15.47, for a total value of C$77,350.00. In other Ivanhoe Mines 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 value of C$77,350.00. Also, Director Setha Patricia Makhesha sold 3,295 shares of the stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of C$14.30, for a total value of C$47,102.03. 50.85% of the stock is owned by corporate insiders.

About Ivanhoe Mines

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.