Ivanhoe Mines Ltd. (TSE:IVN) Receives C$24.20 Average Price Target from Brokerages

Shares of Ivanhoe Mines Ltd. (TSE:IVN) have earned an average rating of “Buy” from the eight ratings firms that are currently covering the firm, Marketbeat.com reports. Eight equities research analysts have rated the stock with a buy recommendation. The average 12-month price objective among brokers that have issued a report on the stock in the last year is C$24.20.

Several research firms have weighed in on IVN. Royal Bank of Canada cut their target price on Ivanhoe Mines from C$25.00 to C$24.00 and set an “outperform” rating for the company in a research note on Tuesday, September 10th. Citigroup raised their price target 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. Jefferies Financial Group boosted their target price on shares of Ivanhoe Mines from C$25.00 to C$26.00 in a research report on Friday, July 12th. Canaccord Genuity Group upped their price objective on shares of Ivanhoe Mines from C$24.00 to C$25.00 in a research report on Monday, July 22nd. Finally, Scotiabank decreased their price objective on shares of Ivanhoe Mines from C$23.00 to C$21.00 in a report on Monday, August 19th.

Ivanhoe Mines Price Performance

Shares of IVN opened at C$20.16 on Friday. The company has a current ratio of 1.17, a quick ratio of 20.86 and a debt-to-equity ratio of 4.24. The company’s fifty day simple moving average is C$17.55 and its 200 day simple moving average is C$18.10. The company has a market cap of C$27.22 billion, a price-to-earnings ratio of 126.00 and a beta of 1.93. Ivanhoe Mines has a 1-year low of C$9.89 and a 1-year high of C$21.32.

Ivanhoe Mines (TSE:IVN) last issued its quarterly earnings data on Wednesday, July 31st. The company reported C$0.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of C$0.07 by C$0.01. On average, research analysts forecast that Ivanhoe Mines will post 1.0362903 earnings per share for the current fiscal year.

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.