Canaccord Genuity Group Boosts Ivanhoe Mines (TSE:IVN) Price Target to C$16.50

Ivanhoe Mines (TSE:IVN) had its price objective boosted by Canaccord Genuity Group from C$14.00 to C$16.50 in a report issued on Wednesday,BayStreet.CA reports. Canaccord Genuity Group currently has a buy rating on the stock.

A number of other equities analysts also recently issued reports on the stock. Jefferies Financial Group cut their price objective on shares of Ivanhoe Mines from C$19.00 to C$17.00 in a report on Thursday, June 12th. Scotiabank raised shares of Ivanhoe Mines from a “hold” rating to an “outperform” rating and lifted their price objective for the stock from C$12.50 to C$17.00 in a report on Monday, September 29th. Raymond James Financial cut their price objective on shares of Ivanhoe Mines from C$21.00 to C$20.00 in a report on Thursday, August 21st. BMO Capital Markets cut their price objective on shares of Ivanhoe Mines from C$24.00 to C$21.00 in a report on Friday, June 13th. Finally, TD Securities lifted their price objective on shares of Ivanhoe Mines from C$13.00 to C$16.00 and gave the stock a “buy” rating in a report on Monday, September 29th. One equities research analyst has rated the stock with a Strong Buy rating and six have assigned a Buy rating to the stock. According to MarketBeat.com, Ivanhoe Mines currently has a consensus rating of “Buy” and a consensus target price of C$16.75.

Ivanhoe Mines Stock Performance

TSE IVN opened at C$15.03 on Wednesday. The company has a current ratio of 1.36, a quick ratio of 20.86 and a debt-to-equity ratio of 2.48. The company has a market cap of C$21.33 billion, a P/E ratio of 51.83 and a beta of 1.79. The company has a fifty day simple moving average of C$12.30 and a 200 day simple moving average of C$12.08. Ivanhoe Mines has a 12-month low of C$8.76 and a 12-month high of C$20.91.

About Ivanhoe Mines

Ivanhoe Mines Ltd is a mineral exploration and development company. The company, together with its subsidiaries, explores, develops, and recovers minerals and precious gems from its property interests located in Africa. The group explores platinum, nickel, copper, gold, silver, cobalt, iron, vanadium, and chrome.