Ivanhoe Mines (TSE:IVN) Price Target Raised to C$17.00 at Stifel Nicolaus

Key Points

• Stifel Nicolaus raised Ivanhoe Mines’ price target from C$15.00 to C$17.00 and reaffirmed a “buy” rating, implying 25.93% potential upside from the prior close.
• Other brokerages have also become more bullish: Morgan Stanley and Canaccord Genuity upgraded the stock, while Scotiabank lifted its target. Overall, analysts maintain a “Moderate Buy” consensus with an average target of C$14.72.
• Ivanhoe Mines shares rose 1.6% to C$13.50, while the company reported quarterly EPS of C$0.04 and revenue of C$216.83 million.

Ivanhoe Mines (TSE:IVN - Get Free Report) had its target price upped by stock analysts at Stifel Nicolaus from C$15.00 to C$17.00 in a report released on Wednesday, BayStreet reports. The firm currently has a "buy" rating on the stock. Stifel Nicolaus' target price would suggest a potential upside of 25.93% from the company's previous close.

Several other brokerages also recently commented on IVN. Morgan Stanley raised shares of Ivanhoe Mines from an "equal weight" rating to an "overweight" rating and upped their target price for the company from C$12.00 to C$13.20 in a research note on Wednesday, July 8th. Canaccord Genuity Group upgraded Ivanhoe Mines from a "hold" rating to a "buy" rating and raised their price objective for the company from C$12.00 to C$13.00 in a report on Tuesday, July 21st. Finally, Scotiabank upped their price target on shares of Ivanhoe Mines from C$13.00 to C$13.50 and gave the stock a "sector perform" rating in a research report on Monday, June 15th. Five research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat, Ivanhoe Mines presently has an average rating of "Moderate Buy" and an average price target of C$14.72.

Ivanhoe Mines Trading Up 1.6%

TSE:IVN traded up C$0.21 during trading hours on Wednesday, hitting C$13.50. 6,071,574 shares of the stock were exchanged, compared to its average volume of 4,433,857. The company has a quick ratio of 20.86, a current ratio of 2.16 and a debt-to-equity ratio of 21.70. Ivanhoe Mines has a twelve month low of C$9.45 and a twelve month high of C$20.34. The company has a market capitalization of C$19.26 billion, a P/E ratio of 150.00 and a beta of 1.58. The company's 50 day moving average is C$11.17 and its two-hundred day moving average is C$11.78.

Ivanhoe Mines (TSE:IVN - Get Free Report) last posted its quarterly earnings results on Wednesday, July 29th. The company reported C$0.04 earnings per share (EPS) for the quarter. The business had revenue of C$216.83 million for the quarter. Ivanhoe Mines had a return on equity of 2.32% and a net margin of 23.46%. On average, sell-side analysts anticipate that Ivanhoe Mines will post 1.0136483 earnings per share for the current fiscal year.

About Ivanhoe Mines

Ivanhoe Mines is a Canadian mining company focused on advancing its three principal operations in Southern Africa; the Kamoa-Kakula Copper Complex in the DRC, the ultra-high-grade Kipushi zinc-copper-germanium-silver mine, also in the DRC; and the tier-one Platreef platinum-palladium-nickel-rhodium-gold-copper mine in South Africa. Ivanhoe Mines is exploring for copper in its highly prospective, 54-100% owned exploration licences in the Western Forelands, covering an area over six times larger than the adjacent Kamoa-Kakula Copper Complex, including the high-grade discoveries in the Makoko District.

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