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

Ivanhoe Mines (TSE:IVN) had its price target hoisted by investment analysts at Eight Capital from C$19.00 to C$30.00 in a report released on Monday, BayStreet.CA reports. Eight Capital’s price objective indicates a potential upside of 65.38% from the company’s current price.

A number of other research analysts also recently weighed in on the company. 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. Canaccord Genuity Group increased their price target on Ivanhoe Mines from C$16.00 to C$21.00 in a research note on Wednesday, April 17th. Raymond James increased their price target on Ivanhoe Mines from C$18.00 to C$19.00 in a research note on Wednesday, March 20th. Finally, TD Securities increased their price target on Ivanhoe Mines from C$17.00 to C$17.50 and gave the company a “buy” rating in a research note on Wednesday, February 28th. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of C$19.94.

Ivanhoe Mines Stock Down 4.7 %

TSE:IVN opened at C$18.14 on Monday. The stock’s fifty day moving average price is C$16.01 and its two-hundred day moving average price is C$13.58. Ivanhoe Mines has a 52-week low of C$9.89 and a 52-week high of C$19.99. The company has a debt-to-equity ratio of 18.08, a quick ratio of 20.86 and a current ratio of 3.28. The company has a market cap of C$23.04 billion, a price-to-earnings ratio of 50.39 and a beta of 2.00.

Ivanhoe Mines (TSE:IVN) last posted its quarterly earnings results on Monday, February 26th. The company reported C$0.03 earnings per share for the quarter, missing analysts’ consensus estimates of C$0.08 by C($0.05). On average, analysts anticipate that Ivanhoe Mines will post 0.5149972 EPS for the current year.

Insider Buying and Selling

In related news, Director Setha Patricia Makhesha sold 3,295 shares of the firm’s stock in a transaction on Thursday, February 29th. The stock was sold at an average price of C$14.30, for a total transaction of C$47,102.03. In other Ivanhoe Mines news, Director Setha Patricia Makhesha sold 3,295 shares of the stock in a transaction dated Thursday, February 29th. The stock was 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 stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of C$15.47, for a total value of C$77,350.00. 50.86% of the stock is currently owned by company insiders.

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.