Ivanhoe Mines (TSE:IVN) Price Target Raised to C$15.00

Ivanhoe Mines (TSE:IVN) had its target price lifted by Canaccord Genuity Group from C$13.00 to C$15.00 in a research report sent to investors on Wednesday morning,BayStreet reports. Canaccord Genuity Group currently has a buy rating on the stock.

Several other equities analysts also recently commented on the company. Scotiabank increased their target price on Ivanhoe Mines from C$13.00 to C$13.50 and gave the company a “sector perform” rating in a research report on Monday, June 15th. Morgan Stanley upgraded Ivanhoe Mines from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from C$12.00 to C$13.20 in a report on Wednesday, July 8th. Finally, Stifel Nicolaus upped their price objective on Ivanhoe Mines from C$15.00 to C$17.00 and gave the company a “buy” rating in a research note on Wednesday. Five equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of C$14.72.

Ivanhoe Mines Stock Up 0.2%

Shares of TSE:IVN opened at C$12.80 on Wednesday. The company has a fifty day moving average of C$11.30 and a 200-day moving average of C$11.75. The company has a market capitalization of C$18.26 billion, a PE ratio of 142.22 and a beta of 1.58. The company has a debt-to-equity ratio of 21.70, a quick ratio of 20.86 and a current ratio of 2.16. Ivanhoe Mines has a 52-week low of C$9.45 and a 52-week high of C$20.34.

Ivanhoe Mines (TSE:IVN) last released its quarterly earnings data on Wednesday, July 29th. The company reported C$0.04 earnings per share for the quarter. The company had revenue of C$216.83 million for the quarter. Ivanhoe Mines had a return on equity of 2.32% and a net margin of 23.46%. On average, equities analysts predict that Ivanhoe Mines will post 1.0136483 EPS for the current fiscal year.

About Ivanhoe Mines

Ivanhoe Mines is a Canadian mining company focused on advancing its three principal operations in Southern Africa; the Kamoa-Kakula Copper Complex in the DRC, the ultra-high-grade Kipushi zinc-copper-germanium-silver mine, also in the DRC; and the tier-one Platreef platinum-palladium-nickel-rhodium-gold-copper mine in South Africa. Ivanhoe Mines is exploring for copper in its highly prospective, 54-100% owned exploration licences in the Western Forelands, covering an area over six times larger than the adjacent Kamoa-Kakula Copper Complex, including the high-grade discoveries in the Makoko District.