Ivanhoe Mines Ltd. (TSE:IVN) Receives C$24.30 Average Price Target from Analysts

Shares of Ivanhoe Mines Ltd. (TSE:IVN) have been given an average recommendation of “Buy” by the eight research firms that are currently covering the stock, Marketbeat Ratings reports. Eight research analysts have rated the stock with a buy recommendation. The average 1-year price target among brokers that have issued ratings on the stock in the last year is C$24.30.

A number of brokerages have recently issued reports on IVN. TD Securities upped their target price on shares of Ivanhoe Mines from C$23.00 to C$25.00 in a research note on Monday, July 22nd. Jefferies Financial Group increased their price objective on shares of Ivanhoe Mines from C$25.00 to C$26.00 in a research note on Friday, July 12th. Scotiabank increased their price objective on shares of Ivanhoe Mines from C$21.00 to C$22.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 8th. Canaccord Genuity Group increased their price objective on shares of Ivanhoe Mines from C$24.00 to C$25.00 in a research note on Monday, July 22nd. Finally, Royal Bank of Canada dropped their price objective on shares of Ivanhoe Mines from C$25.00 to C$24.00 and set an “outperform” rating on the stock in a research note on Tuesday, September 10th.

Ivanhoe Mines Stock Performance

Shares of Ivanhoe Mines stock opened at C$19.25 on Wednesday. The firm has a market cap of C$25.99 billion, a PE ratio of 120.31 and a beta of 1.94. The firm’s 50-day simple moving average is C$18.53 and its 200-day simple moving average is C$18.48. The company has a debt-to-equity ratio of 4.24, a quick ratio of 20.86 and a current ratio of 1.17. Ivanhoe Mines has a 1 year low of C$9.89 and a 1 year high of C$21.32.

Ivanhoe Mines (TSE:IVN) last issued its earnings results on Wednesday, July 31st. The company reported C$0.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of C$0.07 by C$0.01. Equities analysts forecast that Ivanhoe Mines will post 1.0136483 earnings per share 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.