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

Shares of Ivanhoe Mines Ltd. (TSE:IVN) have received an average recommendation of “Buy” from the eight research firms that are currently covering the stock, Marketbeat Ratings reports. Eight research analysts have rated the stock with a buy rating. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is C$24.20.

A number of research analysts have commented on the stock. TD Securities increased their price objective on shares of Ivanhoe Mines from C$23.00 to C$25.00 in a research note on Monday, July 22nd. Jefferies Financial Group upped their price objective on Ivanhoe Mines from C$25.00 to C$26.00 in a research note on Friday, July 12th. Royal Bank of Canada decreased their target price on Ivanhoe Mines from C$25.00 to C$24.00 and set an “outperform” rating for the company in a research report on Tuesday, September 10th. Scotiabank reduced their price objective on Ivanhoe Mines from C$23.00 to C$21.00 in a research note on Monday, August 19th. Finally, Citigroup boosted their target price on shares of Ivanhoe Mines from C$15.00 to C$24.00 and gave the company a “buy” rating in a research note on Thursday, June 20th.

Ivanhoe Mines Trading Up 1.2 %

Shares of IVN stock opened at C$20.56 on Friday. The company has a quick ratio of 20.86, a current ratio of 1.17 and a debt-to-equity ratio of 4.24. Ivanhoe Mines has a fifty-two week low of C$9.89 and a fifty-two week high of C$21.32. The firm’s 50 day moving average price is C$17.44 and its two-hundred day moving average price is C$17.97. The stock has a market cap of C$27.76 billion, a price-to-earnings ratio of 128.50 and a beta of 1.93.

Ivanhoe Mines (TSE:IVN) last issued its quarterly earnings data on Wednesday, July 31st. The company reported C$0.08 earnings per share for the quarter, beating analysts’ consensus estimates of C$0.07 by C$0.01. On average, analysts anticipate that Ivanhoe Mines will post 1.0362903 EPS for the current year.

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.