Ivanhoe Mines Ltd. (TSE:IVN) Receives C$24.30 Consensus PT from Brokerages

Ivanhoe Mines Ltd. (TSE:IVN) has been given a consensus recommendation of “Buy” by the eight research firms that are covering the stock, Marketbeat reports. Eight analysts have rated the stock with a buy recommendation. The average 1 year price target among brokers that have issued a report on the stock in the last year is C$24.30.

Several research firms have recently issued reports on IVN. Scotiabank upped their price objective on shares of Ivanhoe Mines from C$21.00 to C$22.00 and gave the company an “outperform” rating in a research report on Tuesday, October 8th. Royal Bank of Canada dropped their price objective on shares of Ivanhoe Mines from C$25.00 to C$24.00 and set an “outperform” rating for the company in a research report on Tuesday, September 10th. TD Securities raised their target price on shares of Ivanhoe Mines from C$23.00 to C$25.00 in a research note on Monday, July 22nd. Jefferies Financial Group lifted their price objective on Ivanhoe Mines from C$25.00 to C$26.00 in a research note on Friday, July 12th. Finally, Canaccord Genuity Group increased their target price on shares of Ivanhoe Mines from C$24.00 to C$25.00 in a report on Monday, July 22nd.

Ivanhoe Mines Trading Up 2.7 %

Shares of TSE IVN opened at C$19.75 on Wednesday. The business has a 50-day moving average price of C$18.59 and a two-hundred day moving average price of C$18.50. The firm has a market capitalization of C$26.66 billion, a PE ratio of 123.44 and a beta of 1.94. Ivanhoe Mines has a one year low of C$9.89 and a one year high of C$21.32. 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 earnings results on Wednesday, July 31st. The company reported C$0.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of C$0.07 by C$0.01. As a group, analysts predict that Ivanhoe Mines will post 1.0136483 earnings per share for the current fiscal 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.