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

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

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

Ivanhoe Mines Stock Performance

TSE IVN opened at C$19.36 on Wednesday. The company has a debt-to-equity ratio of 18.08, a current ratio of 3.28 and a quick ratio of 20.86. The firm has a market capitalization of C$24.59 billion, a price-to-earnings ratio of 53.78 and a beta of 2.00. The company’s fifty day moving average is C$15.74 and its two-hundred day moving average is C$13.38. Ivanhoe Mines has a 52-week low of C$9.89 and a 52-week high of C$19.73.

Ivanhoe Mines (TSE:IVN) last posted its quarterly earnings results 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). Equities research analysts forecast that Ivanhoe Mines will post 0.5149972 EPS for the current year.

Insider Activity at Ivanhoe Mines

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

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.