Ivanhoe Mines (TSE:IVN) PT Raised to C$30.00 at Eight Capital

Ivanhoe Mines (TSE:IVN) had its target price boosted by equities researchers at Eight Capital from C$19.00 to C$30.00 in a report released on Monday, BayStreet.CA reports. Eight Capital’s price target would suggest a potential upside of 65.38% from the company’s current price.

IVN has been the subject of several other reports. Bank of America upped their target price on Ivanhoe Mines from C$15.50 to C$21.00 in a research note on Tuesday, April 9th. 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 note on Wednesday, February 28th. Canaccord Genuity Group upped their target price on Ivanhoe Mines from C$16.00 to C$21.00 in a research note on Wednesday, April 17th. Finally, Raymond James upped their target price on Ivanhoe Mines from C$18.00 to C$19.00 in a research note on Wednesday, March 20th. Five equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Ivanhoe Mines currently has a consensus rating of “Buy” and an average target price of C$19.94.

Ivanhoe Mines Stock Down 4.7 %

Shares of TSE:IVN opened at C$18.14 on Monday. 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 52-week low of C$9.89 and a 52-week high of C$19.99. The stock’s fifty day simple moving average is C$16.01 and its 200-day simple moving average is C$13.58. The company has a market capitalization of C$23.04 billion, a P/E ratio of 50.39 and a beta of 2.00.

Ivanhoe Mines (TSE:IVN) last issued 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). As a group, equities research analysts forecast that Ivanhoe Mines will post 0.5149972 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Ivanhoe Mines 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. In other news, 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. Also, Senior Officer Mary Vincelli sold 5,000 shares of the stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of C$15.47, for a total value of C$77,350.00. 50.86% of the stock is currently owned by 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.