Analysts Set Ivanhoe Mines Ltd. (TSE:IVN) Price Target at C$17.45

Ivanhoe Mines Ltd. (TSE:IVN) has been assigned an average rating of “Buy” from the seven brokerages that are covering the company, Marketbeat reports. Six research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is C$17.45.

IVN has been the topic of several recent research reports. Scotiabank raised 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. Stifel Nicolaus lifted their price target on shares of Ivanhoe Mines from C$16.00 to C$18.00 in a research note on Tuesday, October 21st. Jefferies Financial Group boosted their price target on shares of Ivanhoe Mines from C$16.00 to C$18.00 in a report on Monday, October 6th. Citigroup raised their price objective on shares of Ivanhoe Mines from C$14.00 to C$18.00 and gave the stock a “buy” rating in a report on Wednesday, October 8th. Finally, Canaccord Genuity Group upped their target price on shares of Ivanhoe Mines from C$14.00 to C$16.50 and gave the company a “buy” rating in a research note on Wednesday, October 1st.

Ivanhoe Mines Stock Down 1.5%

Shares of IVN opened at C$12.17 on Wednesday. The company has a debt-to-equity ratio of 2.48, a quick ratio of 20.86 and a current ratio of 1.36. The company has a 50-day simple moving average of C$13.98 and a 200-day simple moving average of C$12.38. Ivanhoe Mines has a 52 week low of C$8.76 and a 52 week high of C$20.77. The firm has a market capitalization of C$17.28 billion, a P/E ratio of 55.32 and a beta of 2.14.

Ivanhoe Mines (TSE:IVN) last released its earnings results on Wednesday, October 29th. The company reported C$0.02 earnings per share for the quarter. The firm had revenue of C$180.18 million for the quarter. On average, equities research analysts expect that Ivanhoe Mines will post 1.0136483 earnings per share for the current year.

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.