Ivanhoe Mines (TSE:IVN) Price Target Increased to C$21.00 by Analysts at Canaccord Genuity Group

Ivanhoe Mines (TSE:IVN) had its price objective upped by equities researchers at Canaccord Genuity Group from C$16.00 to C$21.00 in a note issued to investors on Wednesday, BayStreet.CA reports. Canaccord Genuity Group’s price objective points to a potential upside of 8.64% from the stock’s previous close.

Several other equities analysts also recently issued reports on IVN. 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 report on Wednesday, February 28th. Bank of America raised their price target on Ivanhoe Mines from C$15.50 to C$21.00 in a research note on Tuesday, April 9th. Finally, Raymond James increased their price objective on Ivanhoe Mines from C$18.00 to C$19.00 in a report on Wednesday, March 20th. Five research analysts have rated the stock with a buy rating, According to MarketBeat, Ivanhoe Mines presently has a consensus rating of “Buy” and an average price target of C$18.31.

Ivanhoe Mines Stock Up 2.2 %

Shares of TSE IVN traded up C$0.41 during midday trading on Wednesday, hitting C$19.33. 3,853,102 shares of the company’s stock were exchanged, compared to its average volume of 1,908,974. The firm’s fifty day simple moving average is C$15.53 and its 200-day simple moving average is C$13.30. The company has a market cap of C$24.55 billion, a PE ratio of 53.69 and a beta of 2.00. Ivanhoe Mines has a twelve month low of C$9.89 and a twelve month high of C$19.63. The company has a debt-to-equity ratio of 18.08, a current ratio of 3.28 and a quick ratio of 20.86.

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

Insider Transactions at Ivanhoe Mines

In related news, Senior Officer Stephen Ralph Amos sold 2,489 shares of the stock in a transaction on Saturday, January 20th. The stock was sold at an average price of C$13.24, for a total transaction of C$32,941.92. In other Ivanhoe Mines news, Senior Officer Stephen Ralph Amos sold 2,489 shares of the company’s stock in a transaction 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 Ivanhoe Mines stock in a transaction dated Thursday, February 29th. The shares were 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 worth $157,394 over the last 90 days. 50.86% of the stock is currently owned by 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.