Ivanhoe Mines (TSE:IVN) Price Target Increased to C$22.00 by Analysts at Scotiabank

Ivanhoe Mines (TSE:IVN) had its target price lifted by Scotiabank from C$21.00 to C$22.00 in a research note released on Tuesday, BayStreet.CA reports. They currently have an outperform rating on the stock.

Several other equities research analysts have also commented on the company. TD Securities boosted their price target on Ivanhoe Mines from C$23.00 to C$25.00 in a research note on Monday, July 22nd. Royal Bank of Canada decreased their price target on Ivanhoe Mines from C$25.00 to C$24.00 and set an outperform rating on the stock in a research note on Tuesday, September 10th. Jefferies Financial Group boosted their price target on Ivanhoe Mines from C$25.00 to C$26.00 in a research note on Friday, July 12th. Canaccord Genuity Group upped their target price on Ivanhoe Mines from C$24.00 to C$25.00 in a research note on Monday, July 22nd. Finally, Citigroup upped their target price on Ivanhoe Mines from C$15.00 to C$24.00 and gave the company a buy rating in a research note on Thursday, June 20th. Eight analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company has an average rating of Buy and a consensus price target of C$24.30.

Ivanhoe Mines Price Performance

Shares of IVN opened at C$19.31 on Tuesday. Ivanhoe Mines has a twelve month low of C$9.89 and a twelve month high of C$21.32. The stock’s 50 day moving average is C$17.77 and its two-hundred day moving average is C$18.26. The firm has a market capitalization of C$26.07 billion, a PE ratio of 120.69 and a beta of 1.94. The company has a current ratio of 1.17, a quick ratio of 20.86 and a debt-to-equity ratio of 4.24.

Ivanhoe Mines (TSE:IVN) last announced its quarterly earnings data on Wednesday, July 31st. The company reported C$0.08 earnings per share for the quarter, beating analysts’ consensus estimates of C$0.07 by C$0.01. Research analysts anticipate that Ivanhoe Mines will post 1.0136483 earnings per share for the current year.

About Ivanhoe Mines

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.