Eight Capital Boosts Ivanhoe Mines (TSE:IVN) Price Target to C$30.00

Ivanhoe Mines (TSE:IVN) had its price target upped by equities researchers at Eight Capital from C$19.00 to C$30.00 in a research note issued on Monday, BayStreet.CA reports. Eight Capital’s target price indicates a potential upside of 59.15% from the stock’s previous close.

IVN has been the subject of several other research reports. Bank of America increased their price target on Ivanhoe Mines from C$15.50 to C$21.00 in a research note on Tuesday, April 9th. TD Securities upped their price objective on Ivanhoe Mines from C$17.00 to C$17.50 and gave the company a “buy” rating in a report on Wednesday, February 28th. Raymond James lifted their target price on Ivanhoe Mines from C$18.00 to C$19.00 in a report on Wednesday, March 20th. Finally, Canaccord Genuity Group raised their price objective on shares of Ivanhoe Mines from C$16.00 to C$21.00 in a research report on Wednesday, April 17th. Five 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 price target of C$19.69.

Ivanhoe Mines Stock Performance

TSE:IVN traded down C$0.36 during trading hours on Monday, reaching C$18.85. 4,430,380 shares of the stock were exchanged, compared to its average volume of 2,051,680. The stock has a market capitalization of C$23.94 billion, a P/E ratio of 52.42 and a beta of 2.00. Ivanhoe Mines has a 52 week low of C$9.89 and a 52 week high of C$19.99. The firm has a 50 day simple moving average of C$15.84 and a 200-day simple moving average of C$13.47. 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 (TSE:IVN) last posted its quarterly earnings results on Monday, February 26th. The company reported C$0.03 EPS for the quarter, missing the consensus estimate of C$0.08 by C($0.05). As a group, sell-side analysts forecast that Ivanhoe Mines will post 0.5149972 earnings per share for the current fiscal year.

Insider Buying and Selling at Ivanhoe Mines

In other Ivanhoe Mines news, Senior Officer Mary Vincelli sold 5,000 shares of Ivanhoe Mines stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of C$15.47, for a total transaction of C$77,350.00. In related news, Director Setha Patricia Makhesha sold 3,295 shares of Ivanhoe Mines stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of C$14.30, for a total transaction of C$47,102.03. Also, Senior Officer Mary Vincelli sold 5,000 shares of the business’s stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of C$15.47, for a total transaction of C$77,350.00. 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.