Ivanhoe Mines Ltd. (TSE:IVN) Receives Average Rating of “Buy” from Brokerages

Ivanhoe Mines Ltd. (TSE:IVN) has been given an average recommendation of “Buy” by the seven analysts that are currently covering the firm, MarketBeat.com reports. Six investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is C$17.45.

Several equities research analysts have weighed in on IVN shares. Scotiabank upgraded Ivanhoe Mines from a “hold” rating to an “outperform” rating and upped their target price for the stock from C$12.50 to C$17.00 in a research note on Monday, September 29th. TD Securities boosted their target price on Ivanhoe Mines from C$13.00 to C$16.00 and gave the stock a “buy” rating in a research note on Monday, September 29th. Raymond James Financial decreased their price target on shares of Ivanhoe Mines from C$21.00 to C$20.00 in a report on Thursday, August 21st. Stifel Nicolaus increased their price objective on shares of Ivanhoe Mines from C$16.00 to C$18.00 in a research note on Tuesday, October 21st. Finally, Canaccord Genuity Group boosted their target price on shares of Ivanhoe Mines from C$14.00 to C$16.50 and gave the stock a “buy” rating in a research note on Wednesday, October 1st.

Ivanhoe Mines Stock Performance

Shares of Ivanhoe Mines stock opened at C$12.59 on Wednesday. The company has a current ratio of 1.36, a quick ratio of 20.86 and a debt-to-equity ratio of 2.48. The company has a market cap of C$17.87 billion, a PE ratio of 57.23 and a beta of 2.14. The company has a 50 day moving average of C$13.97 and a 200-day moving average of C$12.40. Ivanhoe Mines has a 1-year low of C$8.76 and a 1-year high of C$20.77.

About Ivanhoe Mines

Ivanhoe Mines Ltd is a mineral exploration and development company. The company, together with its subsidiaries, explores, develops, and recovers minerals and precious gems from its property interests located in Africa. The group explores platinum, nickel, copper, gold, silver, cobalt, iron, vanadium, and chrome.