Ivanhoe Mines (TSE:IVN) Price Target Raised to C$20.00

Ivanhoe Mines (TSE:IVN) had its target price upped by Scotiabank from C$18.50 to C$20.00 in a research note released on Thursday morning,BayStreet.CA reports. Scotiabank currently has an outperform rating on the stock.

IVN has been the subject of several other reports. Stifel Nicolaus boosted their price objective on shares of Ivanhoe Mines from C$16.00 to C$18.00 in a research report on Tuesday, October 21st. Jefferies Financial Group cut Ivanhoe Mines from a “buy” rating to a “hold” rating and lowered their price target for the stock from C$18.00 to C$16.00 in a report on Monday, December 8th. Canaccord Genuity Group upped their price objective on Ivanhoe Mines from C$14.00 to C$16.50 and gave the stock a “buy” rating in a research report on Wednesday, October 1st. TD Securities raised their price objective on Ivanhoe Mines from C$13.00 to C$16.00 and gave the company a “buy” rating in a research note on Monday, September 29th. Finally, Citigroup lifted their target price on Ivanhoe Mines from C$14.00 to C$18.00 and gave the company a “buy” rating in a research report on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, Ivanhoe Mines has an average rating of “Buy” and an average target price of C$17.55.

Ivanhoe Mines Stock Performance

Shares of IVN stock opened at C$16.23 on Thursday. The company has a fifty day moving average price of C$14.21 and a two-hundred day moving average price of C$13.10. Ivanhoe Mines has a one year low of C$8.76 and a one year high of C$17.47. The stock has a market cap of C$23.04 billion, a P/E ratio of 73.77 and a beta of 1.96. The company has a debt-to-equity ratio of 2.48, a current ratio of 1.36 and a quick ratio of 20.86.

Ivanhoe Mines (TSE:IVN) last released its quarterly earnings data on Wednesday, October 29th. The company reported C$0.02 earnings per share (EPS) for the quarter. The business had revenue of C$180.18 million during the quarter. As a group, equities analysts predict that Ivanhoe Mines will post 1.0136483 EPS for the current year.

Insiders Place Their Bets

In related news, insider Mark Sean Farren sold 14,300 shares of the business’s stock in a transaction on Tuesday, December 16th. The shares were sold at an average price of C$13.38, for a total value of C$191,334.00. Following the transaction, the insider owned 270,623 shares in the company, valued at C$3,620,935.74. The trade was a 5.02% decrease in their ownership of the stock. Also, insider Citic Metal Africa Investments Limited sold 350,000 shares of the company’s stock in a transaction on Tuesday, December 30th. The shares were sold at an average price of C$15.71, for a total transaction of C$5,498,500.00. Insiders sold 550,290 shares of company stock valued at $8,186,323 over the last 90 days. 44.96% of the stock is currently owned by company insiders.

Ivanhoe Mines Company Profile

Ivanhoe Mines Ltd is a mineral exploration and development company. The company, together with its subsidiaries, explores, develops, and recovers minerals and precious gems from its property interests located in Africa. The group explores platinum, nickel, copper, gold, silver, cobalt, iron, vanadium, and chrome. It operates in four segments: Platreef property, Kamoa Holding joint venture, Kipushi properties, and the Company’s treasury offices.