Ivanhoe Mines (TSE:IVN) Stock Price Expected to Rise, Canaccord Genuity Group Analyst Says

Key Points

• Canaccord Genuity raised Ivanhoe Mines’ price target from C$13.00 to C$15.00 and maintained a “buy” rating, implying 11.11% potential upside.
• Analyst sentiment is broadly positive: Ivanhoe has a consensus “Moderate Buy” rating and an average target price of C$14.72, with recent target increases from Scotiabank, Morgan Stanley, and Stifel Nicolaus.
• The stock traded at C$13.50, while the company reported C$0.04 in quarterly EPS and C$216.83 million in revenue; analysts expect full-year EPS of approximately C$1.01.

Ivanhoe Mines (TSE:IVN - Get Free Report) had its target price lifted by equities researchers at Canaccord Genuity Group from C$13.00 to C$15.00 in a research note issued on Wednesday, BayStreet reports. The firm currently has a "buy" rating on the stock. Canaccord Genuity Group's price target suggests a potential upside of 11.11% from the company's current price.

Several other equities analysts also recently weighed in on the stock. Scotiabank raised 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 note on Monday, June 15th. Morgan Stanley raised shares of Ivanhoe Mines from an "equal weight" rating to an "overweight" rating and raised their target price for the stock from C$12.00 to C$13.20 in a research note on Wednesday, July 8th. Finally, Stifel Nicolaus boosted their target price on Ivanhoe Mines from C$15.00 to C$17.00 and gave the stock a "buy" rating in a report on Wednesday. Five analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of C$14.72.

Ivanhoe Mines Price Performance

Ivanhoe Mines stock traded up C$0.21 during midday trading on Wednesday, reaching C$13.50. The company had a trading volume of 6,071,574 shares, compared to its average volume of 4,433,857. The company has a debt-to-equity ratio of 21.70, a current ratio of 2.16 and a quick ratio of 20.86. Ivanhoe Mines has a 12-month low of C$9.45 and a 12-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 firm's fifty day simple moving average is C$11.17 and its 200-day simple moving average is C$11.78.

Ivanhoe Mines (TSE:IVN - Get Free Report) last announced its earnings results on Wednesday, July 29th. The company reported C$0.04 EPS for the quarter. Ivanhoe Mines had a return on equity of 2.32% and a net margin of 23.46%.The business had revenue of C$216.83 million during the quarter. As a group, equities analysts anticipate that Ivanhoe Mines will post 1.0136483 EPS for the current year.

Ivanhoe Mines Company Profile

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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