Ivanhoe Mines (TSE:IVN) PT Raised to C$25.00 at Canaccord Genuity Group

Ivanhoe Mines (TSE:IVN) had its price objective lifted by Canaccord Genuity Group from C$24.00 to C$25.00 in a report published on Monday morning, BayStreet.CA reports.

A number of other equities analysts have also recently issued reports on the stock. Raymond James raised their target price on shares of Ivanhoe Mines from C$21.00 to C$24.00 and gave the stock an outperform rating in a report on Thursday, May 23rd. Citigroup raised their target price on shares of Ivanhoe Mines from C$15.00 to C$24.00 and gave the stock a buy rating in a report on Thursday, June 20th. Royal Bank of Canada raised their target price on shares of Ivanhoe Mines from C$19.00 to C$22.00 and gave the stock an outperform rating in a report on Wednesday, May 1st. Eight Capital raised their target price on shares of Ivanhoe Mines from C$19.00 to C$30.00 in a report on Monday, April 22nd. Finally, Bank of America raised their target price on shares of Ivanhoe Mines from C$15.50 to C$21.00 in a report on Tuesday, April 9th. Nine investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock has an average rating of Buy and a consensus price target of C$24.20.

Ivanhoe Mines Stock Performance

Shares of IVN stock opened at C$17.86 on Monday. The company has a debt-to-equity ratio of 18.77, a quick ratio of 20.86 and a current ratio of 0.42. Ivanhoe Mines has a one year low of C$9.89 and a one year high of C$21.32. The company’s 50-day simple moving average is C$18.67 and its 200-day simple moving average is C$16.95. The stock has a market capitalization of C$22.68 billion, a price-to-earnings ratio of 94.00 and a beta of 1.98.

Ivanhoe Mines (TSE:IVN) last issued its quarterly earnings results on Tuesday, April 30th. The company reported C($0.07) EPS for the quarter, missing the consensus estimate of C($0.01) by C($0.06). Equities analysts anticipate that Ivanhoe Mines will post 0.4653228 earnings per share for the current fiscal year.

Insider Activity

In related news, Senior Officer Mary Vincelli sold 3,600 shares of the firm’s stock in a transaction that occurred on Thursday, June 20th. The shares were sold at an average price of C$17.96, for a total transaction of C$64,639.80. In related news, Senior Officer Mary Vincelli sold 3,600 shares of the firm’s stock in a transaction that occurred on Thursday, June 20th. The shares were sold at an average price of C$17.96, for a total transaction of C$64,639.80. Also, insider CITIC Metal Africa Investments Limited sold 11,810,800 shares of the firm’s stock in a transaction that occurred on Monday, June 17th. The shares were sold at an average price of C$17.41, for a total transaction of C$205,626,028.00. Over the last 90 days, insiders have sold 12,064,614 shares of company stock valued at $210,024,706. Insiders own 50.86% of the company’s stock.

About Ivanhoe Mines

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.