Ivanhoe Mines (TSE:IVN) Price Target Increased to C$21.00 by Analysts at Raymond James

Ivanhoe Mines (TSE:IVN) had its target price lifted by Raymond James from C$19.00 to C$21.00 in a research note issued to investors on Tuesday morning, BayStreet.CA reports.

Several other analysts have also issued reports on the stock. Bank of America increased their price target on shares of Ivanhoe Mines from C$15.50 to C$21.00 in a research report on Tuesday, April 9th. Canaccord Genuity Group increased their price target on shares of Ivanhoe Mines from C$16.00 to C$21.00 in a research report on Wednesday, April 17th. Eight Capital increased their price target on shares of Ivanhoe Mines from C$19.00 to C$30.00 in a research report on Monday. Finally, TD Securities increased their price target on shares of Ivanhoe Mines from C$17.00 to C$17.50 and gave the stock a buy rating in a research report on Wednesday, February 28th. Five research analysts have rated the stock with a buy rating, According to data from MarketBeat, Ivanhoe Mines has an average rating of Buy and an average price target of C$19.94.

Ivanhoe Mines Stock Performance

Shares of TSE:IVN opened at C$18.14 on Tuesday. The company’s 50 day moving average price is C$16.01 and its two-hundred day moving average price is C$13.58. Ivanhoe Mines has a 12-month low of C$9.89 and a 12-month high of C$19.99. The firm has a market cap of C$23.04 billion, a PE ratio of 50.39 and a beta of 2.00. 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 announced its earnings results on Monday, February 26th. The company reported C$0.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of C$0.08 by C($0.05). Equities research analysts predict that Ivanhoe Mines will post 0.5149972 earnings per share for the current year.

Insider Activity at Ivanhoe Mines

In related news, Director Setha Patricia Makhesha sold 3,295 shares of the stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of C$14.30, for a total value of C$47,102.03. In other news, Director Setha Patricia Makhesha sold 3,295 shares of the firm’s stock in a transaction on 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 firm’s 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. 50.86% of the stock is owned by 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.