Ivanhoe Mines (TSE:IVN) Stock Price Expected to Rise, Scotia Analyst Says

Ivanhoe Mines (TSE:IVN) had its price target boosted by equities research analysts at Scotia from C$13.00 to C$13.50 in a research note issued on Wednesday, BayStreet reports. The brokerage presently has a “sector perform” rating on the stock.

Other equities research analysts have also issued reports about the company. Canaccord Genuity Group lifted their price target on Ivanhoe Mines from C$13.00 to C$15.00 and gave the company a “buy” rating in a research report on Wednesday. Morgan Stanley upgraded shares of 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 research note on Wednesday, July 8th. Stifel Nicolaus upped their price target on shares of Ivanhoe Mines from C$15.00 to C$17.00 and gave the company a “buy” rating in a report on Wednesday. Finally, Scotiabank upped their price objective on shares of Ivanhoe Mines from C$13.00 to C$13.50 and gave the stock a “sector perform” rating in a research note on Monday, June 15th. Five research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of C$14.72.

Ivanhoe Mines Stock Performance

Shares of Ivanhoe Mines stock traded up C$0.21 during mid-day trading on Wednesday, hitting C$13.50. 6,071,574 shares of the stock were exchanged, compared to its average volume of 4,433,857. The company has a market capitalization of C$19.26 billion, a P/E ratio of 150.00 and a beta of 1.58. The company has a 50-day simple moving average of C$11.17 and a 200 day simple moving average of C$11.78. 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 12 month low of C$9.45 and a 12 month 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 EPS for the quarter. The company had revenue of C$216.83 million during the quarter. Ivanhoe Mines had a net margin of 23.46% and a return on equity of 2.32%. Sell-side analysts anticipate that Ivanhoe Mines will post 1.0136483 earnings per share for the current fiscal year.

Ivanhoe Mines Company Profile

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.