Ivanhoe Mines Ltd. (TSE:IVN) Receives C$24.30 Consensus Price Target from Analysts

Ivanhoe Mines Ltd. (TSE:IVN) has earned an average recommendation of “Buy” from the eight research firms that are currently covering the stock, MarketBeat Ratings reports. Eight analysts have rated the stock with a buy rating. The average 1 year target price among analysts that have issued ratings on the stock in the last year is C$24.30.

IVN has been the subject of several analyst reports. TD Securities boosted their price target on Ivanhoe Mines from C$23.00 to C$25.00 in a report on Monday, July 22nd. Royal Bank of Canada cut their price target on Ivanhoe Mines from C$25.00 to C$24.00 and set an “outperform” rating for the company in a report on Tuesday, September 10th. Canaccord Genuity Group boosted their price objective on shares of Ivanhoe Mines from C$24.00 to C$25.00 in a research note on Monday, July 22nd. Jefferies Financial Group boosted their price objective on shares of Ivanhoe Mines from C$25.00 to C$26.00 in a research note on Friday, July 12th. Finally, Scotiabank boosted 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 note on Tuesday, October 8th.

Ivanhoe Mines Price Performance

IVN stock opened at C$19.25 on Wednesday. The firm has a 50 day moving average of C$18.53 and a 200-day moving average of C$18.48. Ivanhoe Mines has a 12-month low of C$9.89 and a 12-month 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. The company has a market cap of C$25.99 billion, a price-to-earnings ratio of 120.31 and a beta of 1.94.

Ivanhoe Mines (TSE:IVN) last issued its quarterly earnings data on Wednesday, July 31st. The company reported C$0.08 earnings per share (EPS) for the quarter, topping the consensus estimate of C$0.07 by C$0.01. As a group, equities analysts expect that Ivanhoe Mines will post 1.0136483 EPS 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.