Canaccord Genuity Group Increases Ivanhoe Mines (TSE:IVN) Price Target to C$21.00

Ivanhoe Mines (TSE:IVN) had its price objective boosted by Canaccord Genuity Group from C$16.00 to C$21.00 in a report published on Wednesday, BayStreet.CA reports.

A number of other brokerages have also commented on IVN. Raymond James increased their price objective on Ivanhoe Mines from C$18.00 to C$19.00 in a research report on Wednesday, March 20th. TD Securities raised their price objective on Ivanhoe Mines from C$17.00 to C$17.50 and gave the stock a buy rating in a research note on Wednesday, February 28th. Finally, Bank of America raised their price objective on Ivanhoe Mines from C$15.50 to C$21.00 in a research note on Tuesday, April 9th. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, Ivanhoe Mines currently has a consensus rating of Buy and a consensus target price of C$18.31.

Ivanhoe Mines Stock Down 0.8 %

TSE IVN opened at C$19.21 on Wednesday. The firm has a market cap of C$24.40 billion, a PE ratio of 53.36 and a beta of 2.00. 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 stock’s 50 day simple moving average is C$15.84 and its 200 day simple moving average is C$13.44. Ivanhoe Mines has a one year low of C$9.89 and a one year high of C$19.99.

Ivanhoe Mines (TSE:IVN) last announced its quarterly earnings data on Monday, February 26th. The company reported C$0.03 EPS for the quarter, missing analysts’ consensus estimates of C$0.08 by C($0.05). As a group, sell-side analysts forecast that Ivanhoe Mines will post 0.5149972 earnings per share for the current fiscal year.

Insider Buying and Selling at Ivanhoe Mines

In other Ivanhoe Mines news, Director Setha Patricia Makhesha sold 3,295 shares of Ivanhoe Mines 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. In other news, 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 value of C$77,350.00. Also, Director Setha Patricia Makhesha sold 3,295 shares of the firm’s 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. Company insiders own 50.86% of the company’s stock.

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.