Scotiabank Raises Ivanhoe Mines (TSE:IVN) Price Target to C$22.00

Ivanhoe Mines (TSE:IVN) had its price objective increased by equities research analysts at Scotiabank from C$21.00 to C$22.00 in a research note issued on Tuesday, BayStreet.CA reports. The brokerage currently has an “outperform” rating on the stock. Scotiabank’s target price suggests a potential upside of 16.40% from the stock’s previous close.

Several other research analysts have also recently issued reports on IVN. Royal Bank of Canada dropped their target price on shares of Ivanhoe Mines from C$25.00 to C$24.00 and set an “outperform” rating on the stock in a report on Tuesday, September 10th. 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. 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. Citigroup raised their price target on shares of Ivanhoe Mines from C$15.00 to C$24.00 and gave the company a “buy” rating in a report on Thursday, June 20th. Finally, 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. Eight research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has an average rating of “Buy” and a consensus target price of C$24.30.

Ivanhoe Mines Stock Down 5.2 %

Ivanhoe Mines stock traded down C$1.03 during midday trading on Tuesday, hitting C$18.90. 1,179,136 shares of the company’s stock were exchanged, compared to its average volume of 2,271,778. The company has a debt-to-equity ratio of 4.24, a quick ratio of 20.86 and a current ratio of 1.17. Ivanhoe Mines has a 12 month low of C$9.89 and a 12 month high of C$21.32. The firm has a 50-day moving average of C$17.68 and a two-hundred day moving average of C$18.19. The company has a market cap of C$25.52 billion, a PE ratio of 118.13 and a beta of 1.93.

Ivanhoe Mines (TSE:IVN) last issued its earnings results on Wednesday, July 31st. The company reported C$0.08 earnings per share (EPS) for the quarter, topping the consensus estimate of C$0.07 by C$0.01. As a group, analysts expect that Ivanhoe Mines will post 1.0362903 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.