Ivanhoe Mines (TSE:IVN) Given a C$13.50 Price Target by Raymond James Analysts

Ivanhoe Mines (TSE:IVNGet Rating) received a C$13.50 price target from investment analysts at Raymond James in a research note issued to investors on Thursday, BayStreet.CA reports. The firm currently has an “outperform” rating on the stock. Raymond James’ target price indicates a potential upside of 36.36% from the company’s previous close.

Several other brokerages have also recently commented on IVN. TD Securities raised their target price on Ivanhoe Mines from C$15.00 to C$16.50 and gave the stock a “buy” rating in a research report on Wednesday, February 23rd. Scotiabank reduced their target price on Ivanhoe Mines from C$15.50 to C$15.00 in a research report on Thursday. BMO Capital Markets raised their target price on Ivanhoe Mines from C$15.00 to C$16.50 in a research report on Wednesday, February 23rd. Finally, Citigroup raised Ivanhoe Mines from a “neutral” rating to a “buy” rating and raised their target price for the stock from C$9.00 to C$15.00 in a research report on Tuesday, March 15th. Six equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has an average rating of “Buy” and an average target price of C$14.11.

Shares of Ivanhoe Mines stock opened at C$9.90 on Thursday. The company’s fifty day simple moving average is C$11.00 and its 200-day simple moving average is C$10.78. The company has a market cap of C$11.96 billion and a price-to-earnings ratio of 167.80. The company has a current ratio of 21.49, a quick ratio of 19.37 and a debt-to-equity ratio of 20.64. Ivanhoe Mines has a 1 year low of C$7.69 and a 1 year high of C$13.15.

Ivanhoe Mines (TSE:IVNGet Rating) last announced its quarterly earnings data on Tuesday, March 8th. The company reported C$0.05 earnings per share (EPS) for the quarter, missing the consensus estimate of C$0.09 by C($0.04). As a group, research analysts forecast that Ivanhoe Mines will post 0.75 earnings per share for the current fiscal year.

In other Ivanhoe Mines news, Director Louis Kabamba Watum sold 3,000 shares of Ivanhoe Mines stock in a transaction on Tuesday, February 15th. The stock was sold at an average price of C$11.23, for a total transaction of C$33,690.00. Following the completion of the transaction, the director now directly owns 118,970 shares of the company’s stock, valued at C$1,336,033.10.

About Ivanhoe Mines (Get Rating)

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, 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.

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