Analysts Set Ivanhoe Mines Ltd. (TSE:IVN) Price Target at C$24.30

Ivanhoe Mines Ltd. (TSE:IVN) has earned an average rating of “Buy” from the eight research firms that are covering the company, MarketBeat reports. Eight equities research analysts have rated the stock with a buy recommendation. The average 12 month target price among analysts that have issued ratings on the stock in the last year is C$24.30.

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

Ivanhoe Mines Stock Down 0.4 %

Shares of TSE IVN opened at C$19.25 on Wednesday. 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. The stock’s 50-day simple moving average is C$18.53 and its 200-day simple moving average is C$18.48. The firm has a market cap of C$25.99 billion, a price-to-earnings ratio of 120.31 and a beta of 1.94.

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. As a group, equities analysts anticipate that Ivanhoe Mines will post 1.0136483 earnings per share for the current fiscal 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.