Royal Bank of Canada Increases Ivanhoe Mines (TSE:IVN) Price Target to C$22.00

Ivanhoe Mines (TSE:IVN) had its target price upped by investment analysts at Royal Bank of Canada from C$19.00 to C$22.00 in a research note issued to investors on Wednesday, BayStreet.CA reports. The brokerage presently has an “outperform” rating on the stock. Royal Bank of Canada’s price target would indicate a potential upside of 19.44% from the company’s previous close.

IVN has been the topic of a number of other reports. Canaccord Genuity Group upped their price target on Ivanhoe Mines from C$16.00 to C$21.00 in a research report on Wednesday, April 17th. Eight Capital upped their price target on Ivanhoe Mines from C$19.00 to C$30.00 in a research report on Monday, April 22nd. Raymond James increased their target price on Ivanhoe Mines from C$19.00 to C$21.00 in a report on Tuesday, April 23rd. TD Securities increased their target price on Ivanhoe Mines from C$17.00 to C$17.50 and gave the stock a “buy” rating in a report on Wednesday, February 28th. Finally, Bank of America increased their target price on Ivanhoe Mines from C$15.50 to C$21.00 in a report on Tuesday, April 9th. Six equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of C$21.81.

Ivanhoe Mines Stock Performance

Shares of IVN traded down C$0.24 on Wednesday, reaching C$18.42. 1,972,283 shares of the stock traded hands, compared to its average volume of 2,342,255. The firm has a market cap of C$23.39 billion, a price-to-earnings ratio of 51.17 and a beta of 2.01. The company has a debt-to-equity ratio of 18.08, a current ratio of 3.28 and a quick ratio of 20.86. Ivanhoe Mines has a 12 month low of C$9.89 and a 12 month high of C$20.66. The stock’s 50-day moving average price is C$16.52 and its 200-day moving average price is C$13.87.

Ivanhoe Mines (TSE:IVN) last released its quarterly earnings data 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 analysts forecast that Ivanhoe Mines will post 0.4702621 EPS for the current fiscal year.

Insider Buying and Selling at Ivanhoe Mines

In other Ivanhoe Mines news, Senior Officer Mary Vincelli sold 5,000 shares of the stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of C$15.47, for a total value of C$77,350.00. In other news, Director Setha Patricia Makhesha sold 3,295 shares of the firm’s stock in a transaction dated Thursday, February 29th. The stock was 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 stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of C$15.47, for a total value of C$77,350.00. Insiders own 50.85% of the company’s stock.

Ivanhoe Mines Company Profile

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.