Ivanhoe Mines (TSE:IVN) Upgraded at Canaccord Genuity Group

Canaccord Genuity Group upgraded shares of Ivanhoe Mines (TSE:IVN) from a hold rating to a buy rating in a research report sent to investors on Tuesday, MarketBeat.com reports. Canaccord Genuity Group currently has C$13.00 target price on the stock, up from their previous target price of C$12.00.

Several other research firms have also commented on IVN. Morgan Stanley raised Ivanhoe Mines from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from C$12.00 to C$13.20 in a report on Wednesday, July 8th. TD Securities dropped their price objective on shares of Ivanhoe Mines from C$19.00 to C$13.00 and set a “buy” rating on the stock in a research note on Wednesday, April 1st. Raymond James Financial lowered shares of Ivanhoe Mines from a “moderate buy” rating to a “hold” rating and cut their target price for the company from C$23.00 to C$17.00 in a report on Wednesday, April 1st. Citigroup lowered their price target on shares of Ivanhoe Mines from C$18.00 to C$13.00 and set a “buy” rating on the stock in a report on Thursday, April 9th. Finally, BMO Capital Markets decreased their price objective on shares of Ivanhoe Mines from C$23.00 to C$16.00 in a research report on Wednesday, April 1st. Five investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, Ivanhoe Mines currently has a consensus rating of “Moderate Buy” and an average price target of C$14.41.

Ivanhoe Mines Trading Down 0.1%

TSE IVN opened at C$10.63 on Tuesday. Ivanhoe Mines has a 1 year low of C$9.45 and a 1 year high of C$20.34. The company has a debt-to-equity ratio of 21.02, a current ratio of 2.33 and a quick ratio of 20.86. The company has a market capitalization of C$15.16 billion, a PE ratio of 118.11 and a beta of 1.58. The company has a fifty day moving average of C$11.25 and a 200 day moving average of C$13.04.

Insider Transactions at Ivanhoe Mines

In other news, Director Setha Patricia Makhesha sold 5,200 shares of Ivanhoe Mines stock in a transaction dated Thursday, May 21st. The shares were sold at an average price of C$11.45, for a total value of C$59,540.00. Following the sale, the director owned 77,922 shares in the company, valued at C$892,206.90. This trade represents a 6.26% decrease in their ownership of the stock. Insiders have sold 10,000 shares of company stock worth $114,554 over the last quarter. Company insiders own 44.96% of the company’s stock.

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. It operates in four segments: Platreef property, Kamoa Holding joint venture, Kipushi properties, and the Company’s treasury offices.