Scotiabank Lowers Ivanhoe Mines (TSE:IVN) Price Target to C$15.00

Ivanhoe Mines (TSE:IVN – Get Rating) had its price target cut by stock analysts at Scotiabank from C$15.50 to C$15.00 in a research report issued to clients and investors on Thursday, BayStreet.CA reports. Scotiabank’s price target would suggest a potential upside of 51.52% from the company’s previous close.

Other equities research analysts also recently issued reports about the stock. TD Securities boosted their price objective on shares of Ivanhoe Mines from C$15.00 to C$16.50 and gave the stock a “buy” rating in a research note on Wednesday, February 23rd. Raymond James set a C$13.50 price objective on shares of Ivanhoe Mines and gave the stock an “outperform” rating in a research note on Wednesday, May 4th. BMO Capital Markets boosted their price objective on shares of Ivanhoe Mines from C$15.00 to C$16.50 in a research note on Wednesday, February 23rd. Finally, Citigroup upgraded shares of Ivanhoe Mines from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from C$9.00 to C$15.00 in a research note on Tuesday, March 15th. Six equities research analysts have rated the stock with a buy rating, According to MarketBeat, Ivanhoe Mines currently has an average rating of “Buy” and a consensus target price of C$14.11.

Ivanhoe Mines stock opened at C$9.90 on Thursday. Ivanhoe Mines has a 1 year low of C$7.69 and a 1 year high of C$13.15. The firm has a 50 day moving average price of C$11.00 and a 200 day moving average price of 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 debt-to-equity ratio of 20.64, a quick ratio of 19.37 and a current ratio of 21.49.

Ivanhoe Mines (TSE:IVN – Get Rating) last released its earnings results on Tuesday, March 8th. The company reported C$0.05 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of C$0.09 by C($0.04). Sell-side analysts predict that Ivanhoe Mines will post 0.75 EPS for the current year.

In other news, Director Louis Kabamba Watum sold 3,000 shares of the business’s stock in a transaction on Tuesday, February 15th. The shares were sold at an average price of C$11.23, for a total transaction of C$33,690.00. Following 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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