Ivanhoe Mines (TSE:IVN) Given New C$21.00 Price Target at Canaccord Genuity Group

Ivanhoe Mines (TSE:IVN) had its price target upped by Canaccord Genuity Group from C$16.00 to C$21.00 in a report published on Wednesday, BayStreet.CA reports.

A number of other research firms also recently issued reports on IVN. Bank of America upped their price target on shares of Ivanhoe Mines from C$15.50 to C$21.00 in a research note on Tuesday, April 9th. Raymond James boosted their price objective on shares of Ivanhoe Mines from C$18.00 to C$19.00 in a research report on Wednesday, March 20th. Finally, TD Securities boosted their price objective on shares of Ivanhoe Mines from C$17.00 to C$17.50 and gave the company a buy rating in a research report on Wednesday, February 28th. Five investment analysts have rated the stock with a buy rating, According to MarketBeat, Ivanhoe Mines presently has a consensus rating of Buy and an average price target of C$18.31.

Ivanhoe Mines Price Performance

Ivanhoe Mines stock opened at C$19.33 on Wednesday. The company has a market cap of C$24.55 billion, a price-to-earnings ratio of 53.69 and a beta of 2.00. The firm’s fifty day moving average is C$15.63 and its 200 day moving average is C$13.34. The company has a quick ratio of 20.86, a current ratio of 3.28 and a debt-to-equity ratio of 18.08. Ivanhoe Mines has a 52-week low of C$9.89 and a 52-week high of C$19.63.

Ivanhoe Mines (TSE:IVN) last released its quarterly earnings results on Monday, February 26th. The company reported C$0.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of C$0.08 by C($0.05). Sell-side analysts forecast that Ivanhoe Mines will post 0.5149972 EPS for the current fiscal year.

Insider Transactions at Ivanhoe Mines

In other news, Senior Officer Mary Vincelli sold 5,000 shares of the company’s stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of C$15.47, for a total value of C$77,350.00. In other news, Senior Officer Mary Vincelli sold 5,000 shares of the company’s stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of C$15.47, for a total value of C$77,350.00. Also, Director Setha Patricia Makhesha sold 3,295 shares of the company’s stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of C$14.30, for a total transaction of C$47,102.03. Over the last ninety days, insiders have sold 10,784 shares of company stock worth $157,394. Insiders own 50.86% of the company’s stock.

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.