Analysts Set Ivanhoe Mines Ltd. (TSE:IVN) PT at C$24.20

Shares of Ivanhoe Mines Ltd. (TSE:IVN) have been assigned a consensus recommendation of “Buy” from the eight research firms that are covering the company, MarketBeat reports. Eight research analysts have rated the stock with a buy recommendation. The average 1-year price target among brokerages that have covered the stock in the last year is C$24.20.

A number of research analysts recently weighed in on the company. Royal Bank of Canada reduced their price objective on 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. Citigroup upped their price target on Ivanhoe Mines from C$15.00 to C$24.00 and gave the stock a “buy” rating in a research note on Thursday, June 20th. Scotiabank reduced their price objective on Ivanhoe Mines from C$23.00 to C$21.00 in a research note on Monday, August 19th. Finally, Jefferies Financial Group raised their price objective on Ivanhoe Mines from C$25.00 to C$26.00 in a research note on Friday, July 12th.

Ivanhoe Mines Price Performance

IVN opened at C$20.16 on Friday. The firm has a market cap of C$27.22 billion, a price-to-earnings ratio of 126.00 and a beta of 1.93. The company has a debt-to-equity ratio of 4.24, a current ratio of 1.17 and a quick ratio of 20.86. The stock’s 50 day simple moving average is C$17.55 and its 200 day simple moving average is C$18.10. Ivanhoe Mines has a 1 year low of C$9.89 and a 1 year high of C$21.32.

Ivanhoe Mines (TSE:IVN) last released its quarterly earnings results on Wednesday, July 31st. The company reported C$0.08 earnings per share for the quarter, beating the consensus estimate of C$0.07 by C$0.01. As a group, analysts predict that Ivanhoe Mines will post 1.0362903 earnings per share for the current year.

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.