Ivanhoe Mines (TSE:IVN) Stock Price Expected to Rise, Scotia Analyst Says

Key Points

• Scotia raised Ivanhoe Mines’ price target to C$13.50 from C$13.00 while maintaining a “sector perform” rating.
• Analyst sentiment is broadly positive: Stifel, Morgan Stanley and Canaccord also raised targets or ratings, contributing to a “Moderate Buy” consensus and an average target of C$14.72.
• Ivanhoe shares rose 1.6% to C$13.50 in mid-day trading, while the company reported quarterly revenue of C$216.83 million and earnings of C$0.04 per share.

Ivanhoe Mines (TSE:IVN - Get Free Report) had its price target boosted by stock analysts at Scotia from C$13.00 to C$13.50 in a research report issued to clients and investors on Wednesday, BayStreet reports. The brokerage currently has a "sector perform" rating on the stock.

A number of other research firms have also recently issued reports on IVN. Scotiabank raised their target price on Ivanhoe Mines from C$13.00 to C$13.50 and gave the company a "sector perform" rating in a research note on Monday, June 15th. Stifel Nicolaus boosted their target price on shares of Ivanhoe Mines from C$15.00 to C$17.00 and gave the company a "buy" rating in a research note on Wednesday. Morgan Stanley upgraded Ivanhoe Mines from an "equal weight" rating to an "overweight" rating and lifted their price target for the company from C$12.00 to C$13.20 in a report on Wednesday, July 8th. Finally, Canaccord Genuity Group raised their price target on Ivanhoe Mines from C$13.00 to C$15.00 and gave the company a "buy" rating in a research report on Wednesday. Five equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of C$14.72.

Ivanhoe Mines Trading Up 1.6%

Shares of IVN traded up C$0.21 during mid-day 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 stock has a market cap of C$19.26 billion, a price-to-earnings ratio of 150.00 and a beta of 1.58. The company has a current ratio of 2.16, a quick ratio of 20.86 and a debt-to-equity ratio of 21.70. The firm has a fifty day simple moving average of C$11.17 and a 200-day simple moving average of C$11.78. Ivanhoe Mines has a fifty-two week low of C$9.45 and a fifty-two week high of C$20.34.

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