Ivanhoe Mines (TSE:IVN) Price Target Raised to C$13.50

Ivanhoe Mines (TSE:IVN) had its target price raised by Scotia from C$13.00 to C$13.50 in a report released on Wednesday morning,BayStreet reports. They currently have a sector perform rating on the stock.

IVN has been the topic of several other reports. Morgan Stanley upgraded Ivanhoe Mines from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from C$12.00 to C$13.20 in a research note on Wednesday, July 8th. Stifel Nicolaus increased their target price on shares of Ivanhoe Mines from C$15.00 to C$17.00 and gave the company a “buy” rating in a report on Wednesday. Scotiabank raised their price target on shares of Ivanhoe Mines from C$13.00 to C$13.50 and gave the company a “sector perform” rating in a research report on Monday, June 15th. Finally, Canaccord Genuity Group boosted their price target on shares of Ivanhoe Mines from C$13.00 to C$15.00 and gave the stock a “buy” rating in a report on Wednesday. Five equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of C$14.72.

Ivanhoe Mines Stock Performance

Shares of Ivanhoe Mines stock opened at C$12.80 on Wednesday. Ivanhoe Mines has a 52 week low of C$9.45 and a 52 week high of C$20.34. The company has a quick ratio of 20.86, a current ratio of 2.16 and a debt-to-equity ratio of 21.70. The business has a 50 day moving average price of C$11.30 and a 200-day moving average price of C$11.75. The company has a market cap of C$18.26 billion, a PE ratio of 142.22 and a beta of 1.58.

Ivanhoe Mines (TSE:IVN) last announced its earnings results on Wednesday, July 29th. The company reported C$0.04 earnings per share (EPS) for the quarter. Ivanhoe Mines had a return on equity of 2.32% and a net margin of 23.46%.The company had revenue of C$216.83 million for the quarter. Equities analysts anticipate that Ivanhoe Mines will post 1.0136483 earnings per share for the current fiscal year.

Ivanhoe Mines Company Profile

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.