Royal Bank of Canada Raises Ivanhoe Mines Ltd. (IVN.TO) (TSE:IVN) Price Target to C$9.00

Ivanhoe Mines Ltd. (IVN.TO) (TSE:IVN) had its price target increased by analysts at Royal Bank of Canada from C$7.00 to C$9.00 in a research report issued on Tuesday, Anlyst Ratings reports. Royal Bank of Canada’s target price suggests a potential upside of 24.14% from the company’s current price.

Several other brokerages also recently issued reports on IVN. TD Securities increased their price objective on shares of Ivanhoe Mines Ltd. (IVN.TO) from C$8.00 to C$9.00 and gave the stock a “buy” rating in a research report on Wednesday, January 6th. Canaccord Genuity reissued a “buy” rating on shares of Ivanhoe Mines Ltd. (IVN.TO) in a research report on Monday.

Shares of IVN stock opened at C$7.25 on Tuesday. The firm has a fifty day moving average of C$6.50 and a 200-day moving average of C$5.37. The company has a quick ratio of 18.39, a current ratio of 21.21 and a debt-to-equity ratio of 2.31. Ivanhoe Mines Ltd. has a 12-month low of C$0.01 and a 12-month high of C$7.83. The company has a market capitalization of C$8.73 billion and a price-to-earnings ratio of -1,035.71.

In related news, Senior Officer Mary Vincelli sold 5,000 shares of the firm’s stock in a transaction on Thursday, December 3rd. The shares were sold at an average price of C$6.21, for a total value of C$31,050.00. Following the completion of the transaction, the insider now owns 95,062 shares of the company’s stock, valued at C$590,335.02.

Ivanhoe Mines Ltd. (IVN.TO) Company Profile

Ivanhoe Mines Ltd. engages in the exploration, development, and recovery of minerals and precious metals located primarily in Africa. It explores for platinum, palladium, nickel, copper, gold, rhodium, zinc, 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 on the DRC's Copperbelt; and the Kamoa-Kakula project located within the Central African Copperbelt.

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