Ivanhoe Mines (TSE:IVN) Price Target Raised to C$24.00

Ivanhoe Mines (TSE:IVNFree Report) had its target price upped by Citigroup from C$15.00 to C$24.00 in a research note published on Thursday morning, MarketBeat Ratings reports. The brokerage currently has a buy rating on the stock.

Several other research firms have also weighed in on IVN. Canaccord Genuity Group increased their price target on Ivanhoe Mines from C$22.00 to C$24.00 and gave the company a buy rating in a report on Monday, May 13th. Royal Bank of Canada boosted their price objective on shares of Ivanhoe Mines from C$19.00 to C$22.00 and gave the company an outperform rating in a research report on Wednesday, May 1st. Scotiabank boosted their price objective on shares of Ivanhoe Mines from C$19.00 to C$23.00 and gave the company an outperform rating in a research report on Thursday, May 30th. BMO Capital Markets boosted their price objective on shares of Ivanhoe Mines from C$18.00 to C$22.00 and gave the company an outperform rating in a research report on Wednesday, May 1st. Finally, Eight Capital boosted their price objective on shares of Ivanhoe Mines from C$19.00 to C$30.00 in a research report on Monday, April 22nd. Nine equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company presently has a consensus rating of Buy and an average target price of C$23.25.

Get Our Latest Stock Analysis on IVN

Ivanhoe Mines Stock Down 4.1 %

Shares of IVN opened at C$17.24 on Thursday. The business’s 50 day simple moving average is C$19.09 and its 200-day simple moving average is C$16.02. Ivanhoe Mines has a 1 year low of C$9.89 and a 1 year high of C$21.32. The company has a debt-to-equity ratio of 18.77, a current ratio of 0.42 and a quick ratio of 20.86. The stock has a market capitalization of C$21.89 billion, a price-to-earnings ratio of 90.74 and a beta of 1.98.

Ivanhoe Mines (TSE:IVNGet Free Report) last posted its earnings results on Tuesday, April 30th. The company reported C($0.07) earnings per share for the quarter, missing analysts’ consensus estimates of C($0.01) by C($0.06). As a group, equities analysts expect that Ivanhoe Mines will post 0.4653228 earnings per share for the current fiscal year.

Insider Transactions at Ivanhoe Mines

In other Ivanhoe Mines news, insider CITIC Metal Africa Investments Limited sold 11,810,800 shares of the stock in a transaction dated Monday, June 17th. The shares were sold at an average price of C$17.41, for a total transaction of C$205,626,028.00. In other Ivanhoe Mines news, insider CITIC Metal Africa Investments Limited sold 11,810,800 shares of the stock in a transaction dated Monday, June 17th. The shares were sold at an average price of C$17.41, for a total transaction of C$205,626,028.00. Also, Director Delphine Traoré bought 5,704 shares of the company’s stock in a transaction on Monday, June 17th. The shares were acquired at an average price of C$17.40 per share, for a total transaction of C$99,249.60. Over the last ninety days, insiders have sold 12,060,014 shares of company stock worth $209,942,666. Insiders own 50.86% of the company’s stock.

Ivanhoe Mines Company Profile

(Get Free Report)

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.

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