Ivanhoe Mines Ltd. (TSE:IVN) Receives Consensus Rating of “Buy” from Brokerages

Ivanhoe Mines Ltd. (TSE:IVN) has been given an average recommendation of “Buy” by the eight brokerages that are covering the firm, MarketBeat Ratings reports. Eight research analysts have rated the stock with a buy recommendation. The average 12 month price target among analysts that have covered the stock in the last year is C$24.30.

A number of analysts recently weighed in on IVN shares. Scotiabank raised their price target on shares of Ivanhoe Mines from C$21.00 to C$22.00 and gave the company an “outperform” rating in a report on Tuesday, October 8th. Royal Bank of Canada lowered their price target on shares of Ivanhoe Mines from C$25.00 to C$24.00 and set an “outperform” rating for the company in a report on Tuesday, September 10th. TD Securities raised their price target on shares of Ivanhoe Mines from C$23.00 to C$25.00 in a report on Monday, July 22nd. Canaccord Genuity Group raised their price target on shares of Ivanhoe Mines from C$24.00 to C$25.00 in a report on Monday, July 22nd. Finally, Jefferies Financial Group raised their price target on shares of Ivanhoe Mines from C$25.00 to C$26.00 in a report on Friday, July 12th.

Ivanhoe Mines Stock Performance

TSE:IVN opened at C$19.78 on Wednesday. Ivanhoe Mines has a 12-month low of C$9.89 and a 12-month high of C$21.32. The company has a quick ratio of 20.86, a current ratio of 1.17 and a debt-to-equity ratio of 4.24. The firm has a market capitalization of C$26.70 billion, a PE ratio of 123.63 and a beta of 1.94. The firm has a 50-day moving average price of C$18.31 and a 200 day moving average price of C$18.44.

Ivanhoe Mines (TSE:IVN) last posted its quarterly earnings data on Wednesday, July 31st. The company reported C$0.08 earnings per share for the quarter, topping the consensus estimate of C$0.07 by C$0.01. Research analysts anticipate that Ivanhoe Mines will post 1.0136483 earnings per share for the current fiscal year.

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.