Analysts Set Ivanhoe Mines Ltd (OTCMKTS:IVPAF) Target Price at $6.80
Ivanhoe Mines Ltd (OTCMKTS:IVPAF) has been assigned an average recommendation of “Buy” from the six analysts that are covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $6.80.
A number of equities research analysts recently issued reports on the company. Canaccord Genuity upped their target price on Ivanhoe Mines from $5.50 to $7.00 and gave the company a “buy” rating in a research note on Wednesday, September 9th. TD Securities upped their price objective on Ivanhoe Mines from $6.50 to $7.00 and gave the company a “buy” rating in a research report on Wednesday, September 9th. Raymond James lifted their price objective on Ivanhoe Mines from $6.00 to $7.00 and gave the stock an “outperform” rating in a research report on Friday, September 11th. BMO Capital Markets upped their target price on shares of Ivanhoe Mines from $9.00 to $10.00 and gave the company an “outperform” rating in a report on Friday, September 11th. Finally, Royal Bank of Canada reaffirmed a “buy” rating and set a $7.00 price target on shares of Ivanhoe Mines in a research note on Tuesday, May 19th.
Shares of IVPAF stock traded up $0.04 during trading hours on Friday, hitting $4.53. The company’s stock had a trading volume of 128,625 shares, compared to its average volume of 142,673. The business has a fifty day moving average of $3.90 and a 200-day moving average of $2.67. Ivanhoe Mines has a twelve month low of $1.35 and a twelve month high of $4.66.
Ivanhoe Mines Ltd. engages in the exploration, development, and recovery of minerals and precious metals located primarily in Africa. The company explores for platinum, palladium, nickel, copper, gold, rhodium, zinc, germanium, and lead deposits. Its projects include the Platreef project located in the Northern Limb of South Africa's Bushveld Complex; the Kipushi project located on the DRC's Copperbelt; and the Kamoa-Kakula project located within the Central African Copperbelt, as well as explores Western Foreland project in the Democratic Republic of Congo.
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