Canaccord Genuity Group Boosts Ivanhoe Mines (TSE:IVN) Price Target to C$25.00

Ivanhoe Mines (TSE:IVN) had its price objective hoisted by Canaccord Genuity Group from C$24.00 to C$25.00 in a research note issued to investors on Monday morning, BayStreet.CA reports.

Several other analysts have also commented on the company. Bank of America lifted their price objective on Ivanhoe Mines from C$15.50 to C$21.00 in a report on Tuesday, April 9th. TD Securities lifted their price objective on Ivanhoe Mines from C$23.00 to C$25.00 in a report on Monday. Raymond James lifted their price objective on Ivanhoe Mines from C$21.00 to C$24.00 and gave the stock an outperform rating in a report on Thursday, May 23rd. Citigroup lifted their price objective on Ivanhoe Mines from C$15.00 to C$24.00 and gave the stock a buy rating in a report on Thursday, June 20th. Finally, Scotiabank lifted their price objective on Ivanhoe Mines from C$19.00 to C$23.00 and gave the stock an outperform rating in a report on Thursday, May 30th. Nine analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock currently has a consensus rating of Buy and a consensus price target of C$24.20.

Ivanhoe Mines Stock Down 0.8 %

Ivanhoe Mines stock opened at C$17.67 on Monday. The firm has a market cap of C$22.44 billion, a price-to-earnings ratio of 93.00 and a beta of 1.98. The stock has a fifty day simple moving average of C$18.71 and a two-hundred day simple moving average of C$16.94. 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 0.42, a quick ratio of 20.86 and a debt-to-equity ratio of 18.77.

Ivanhoe Mines (TSE:IVN) last posted its earnings results on Tuesday, April 30th. The company reported C($0.07) EPS for the quarter, missing analysts’ consensus estimates of C($0.01) by C($0.06). Equities analysts predict that Ivanhoe Mines will post 0.4653228 EPS for the current fiscal year.

Insider Buying and Selling at Ivanhoe Mines

In other news, Senior Officer Mary Vincelli sold 3,600 shares of the business’s stock in a transaction dated Thursday, June 20th. The stock was sold at an average price of C$17.96, for a total value of C$64,639.80. In other news, Senior Officer Mary Vincelli sold 3,600 shares of the business’s stock in a transaction dated Thursday, June 20th. The stock was sold at an average price of C$17.96, for a total value of C$64,639.80. Also, insider CITIC Metal Africa Investments Limited sold 248,314 shares of the business’s stock in a transaction dated Thursday, June 13th. The shares were sold at an average price of C$17.32, for a total value of C$4,300,723.99. Over the last quarter, insiders sold 12,064,614 shares of company stock valued at $210,024,706. Company insiders own 50.86% of the company’s stock.

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.