Ivanhoe Mines Ltd. (TSE:IVN) Stock Has Average Price Target of C$14.72

Ivanhoe Mines Ltd. (TSE:IVN) has earned a consensus recommendation of “Moderate Buy” from the ten research firms that are presently covering the company, Marketbeat Ratings reports. Five investment analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is C$14.72.

Several research analysts have recently issued reports on the stock. Canaccord Genuity Group increased their price objective on shares of Ivanhoe Mines from C$13.00 to C$15.00 and gave the company a “buy” rating in a report on Wednesday, September 9th. Scotia upped 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, September 9th. Morgan Stanley raised Ivanhoe Mines from an “equal weight” rating to an “overweight” rating and raised their target price for the company from C$12.00 to C$13.20 in a research note on Wednesday, July 8th. Finally, Stifel Nicolaus lifted their target price on Ivanhoe Mines from C$15.00 to C$17.00 and gave the stock a “buy” rating in a report on Wednesday, September 9th.

Ivanhoe Mines Stock Up 6.4%

Ivanhoe Mines stock opened at C$9.77 on Wednesday. Ivanhoe Mines has a 52 week low of C$8.92 and a 52 week high of C$20.34. The stock has a market cap of C$13.94 billion, a price-to-earnings ratio of 108.56 and a beta of 1.60. The company’s 50-day moving average price is C$11.60 and its two-hundred day moving average price is C$12.46. The company has a current ratio of 2.16, a quick ratio of 20.86 and a debt-to-equity ratio of 21.70.

Ivanhoe Mines (TSE:IVN) last released its quarterly earnings results on Wednesday, July 29th. The company reported C$0.04 EPS for the quarter. The company had revenue of C$216.83 million for the quarter. Ivanhoe Mines had a net margin of 23.46% and a return on equity of 2.32%. On average, analysts expect that Ivanhoe Mines will post 1.01 EPS 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.