Canaccord Genuity Group Raises Ivanhoe Mines (TSE:IVN) Price Target to C$21.00

Ivanhoe Mines (TSE:IVN) had its target price upped by Canaccord Genuity Group from C$16.00 to C$21.00 in a research note published on Wednesday morning, BayStreet.CA reports.

Other equities analysts have also issued research reports about the company. TD Securities increased their target price on Ivanhoe Mines from C$17.00 to C$17.50 and gave the stock a buy rating in a research note on Wednesday, February 28th. Bank of America increased their target price on Ivanhoe Mines from C$15.50 to C$21.00 in a research note on Tuesday, April 9th. Finally, Raymond James increased their price target on Ivanhoe Mines from C$18.00 to C$19.00 in a research report on Wednesday, March 20th. Five research analysts have rated the stock with a buy rating, According to data from MarketBeat, Ivanhoe Mines currently has a consensus rating of Buy and an average price target of C$18.31.

Ivanhoe Mines Price Performance

Shares of TSE IVN opened at C$19.21 on Wednesday. The firm has a market cap of C$24.40 billion, a P/E ratio of 53.36 and a beta of 2.00. The company has a current ratio of 3.28, a quick ratio of 20.86 and a debt-to-equity ratio of 18.08. Ivanhoe Mines has a 1-year low of C$9.89 and a 1-year high of C$19.99. The business’s 50 day moving average is C$15.84 and its 200-day moving average is C$13.46.

Ivanhoe Mines (TSE:IVN) last announced its earnings results on Monday, February 26th. The company reported C$0.03 earnings per share for the quarter, missing analysts’ consensus estimates of C$0.08 by C($0.05). Equities research analysts predict that Ivanhoe Mines will post 0.5149972 earnings per share for the current year.

Insider Buying and Selling

In related news, Senior Officer Mary Vincelli sold 5,000 shares of the stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of C$15.47, for a total transaction of C$77,350.00. In other Ivanhoe Mines news, Director Setha Patricia Makhesha sold 3,295 shares of the firm’s stock in a transaction on Thursday, February 29th. The stock was sold at an average price of C$14.30, for a total value of C$47,102.03. Also, Senior Officer Mary Vincelli sold 5,000 shares of the firm’s stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of C$15.47, for a total value of C$77,350.00. 50.86% of the stock is currently owned by company insiders.

Ivanhoe Mines Company Profile

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.