Brokerages Set Ivanhoe Mines Ltd. (TSE:IVN) PT at C$24.20

Ivanhoe Mines Ltd. (TSE:IVN) has received a consensus rating of “Buy” from the eight research firms that are presently covering the stock, MarketBeat Ratings reports. Eight investment analysts have rated the stock with a buy recommendation. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is C$24.20.

Several equities research analysts have recently commented on the company. Canaccord Genuity Group upped their target price on Ivanhoe Mines from C$24.00 to C$25.00 in a report on Monday, July 22nd. Scotiabank cut their price target on shares of Ivanhoe Mines from C$23.00 to C$21.00 in a report on Monday, August 19th. Citigroup raised their price objective on shares of Ivanhoe Mines from C$15.00 to C$24.00 and gave the stock a “buy” rating in a research note on Thursday, June 20th. Royal Bank of Canada reduced their target price on Ivanhoe Mines from C$25.00 to C$24.00 and set an “outperform” rating for the company in a report on Tuesday, September 10th. Finally, TD Securities lifted their price target on Ivanhoe Mines from C$23.00 to C$25.00 in a report on Monday, July 22nd.

Ivanhoe Mines Price Performance

The company has a debt-to-equity ratio of 4.24, a current ratio of 1.17 and a quick ratio of 20.86. The stock has a 50-day simple moving average of C$17.49 and a 200 day simple moving average of C$18.04. Ivanhoe Mines has a 52 week low of C$9.89 and a 52 week high of C$21.32. The firm has a market cap of C$27.16 billion, a PE ratio of 127.06 and a beta of 1.93.

Ivanhoe Mines (TSE:IVN) last posted its quarterly earnings results on Wednesday, July 31st. The company reported C$0.08 earnings per share (EPS) for the quarter, beating the consensus estimate of C$0.07 by C$0.01. As a group, equities research analysts forecast that Ivanhoe Mines will post 1.0362903 EPS for the current fiscal year.

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.