Ivanhoe Mines Ltd. (TSE:IVN) Receives C$14.41 Average Target Price from Analysts

Ivanhoe Mines Ltd. (TSE:IVN) has been given an average rating of “Moderate Buy” by the ten brokerages that are presently covering the firm, MarketBeat reports. Five analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is C$14.72.

A number of equities research analysts have weighed in on the stock. Canaccord Genuity Group boosted their target price on shares of Ivanhoe Mines from C$13.00 to C$15.00 and gave the stock a “buy” rating in a report on Wednesday. Scotiabank raised their price target on shares of Ivanhoe Mines from C$13.00 to C$13.50 and gave the company a “sector perform” rating in a research note on Monday, June 15th. Stifel Nicolaus lifted their price target on shares of Ivanhoe Mines from C$15.00 to C$17.00 and gave the stock a “buy” rating in a report on Wednesday. Morgan Stanley raised shares of Ivanhoe Mines from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from C$12.00 to C$13.20 in a research note on Wednesday, July 8th. Finally, Scotia raised their target price on Ivanhoe Mines from C$13.00 to C$13.50 and gave the stock a “sector perform” rating in a research report on Wednesday.

Ivanhoe Mines Stock Performance

Shares of Ivanhoe Mines stock opened at C$12.80 on Tuesday. The company’s 50 day moving average price is C$11.30 and its two-hundred day moving average price is C$11.75. The firm has a market capitalization of C$18.26 billion, a P/E ratio of 142.22 and a beta of 1.58. Ivanhoe Mines has a fifty-two week low of C$9.45 and a fifty-two week high of C$20.34. The company has a debt-to-equity ratio of 21.70, a current ratio of 2.16 and a quick ratio of 20.86.

Ivanhoe Mines (TSE:IVN) last released its quarterly earnings data on Wednesday, July 29th. The company reported C$0.04 earnings per share for the quarter. Ivanhoe Mines had a return on equity of 2.32% and a net margin of 23.46%.The company had revenue of C$216.83 million for the quarter. On average, equities analysts forecast that Ivanhoe Mines will post 1.0136483 earnings per share for the current fiscal year.

About Ivanhoe Mines

Ivanhoe Mines is a Canadian mining company focused on advancing its three principal operations in Southern Africa; the Kamoa-Kakula Copper Complex in the DRC, the ultra-high-grade Kipushi zinc-copper-germanium-silver mine, also in the DRC; and the tier-one Platreef platinum-palladium-nickel-rhodium-gold-copper mine in South Africa. Ivanhoe Mines is exploring for copper in its highly prospective, 54-100% owned exploration licences in the Western Forelands, covering an area over six times larger than the adjacent Kamoa-Kakula Copper Complex, including the high-grade discoveries in the Makoko District.