Ivanhoe Mines Ltd. (TSE:IVN) Given Consensus Rating of "Moderate Buy" by Brokerages

Key Points

• Ivanhoe Mines has a “Moderate Buy” consensus rating from nine brokerages, with five buys and four holds. The average 12-month price target is C$14.41.
• Recent analyst sentiment improved: Canaccord Genuity and Morgan Stanley upgraded the stock to buy/overweight, while Scotiabank raised its target to C$13.50.
• The shares opened at C$11.78, compared with a 52-week range of C$9.45 to C$20.34. Ivanhoe reported quarterly revenue of C$216.83 million and EPS of C$0.04, and operates major copper, zinc, and precious-metals projects in Southern Africa.

Ivanhoe Mines Ltd. (TSE:IVN - Get Free Report) has been given an average recommendation of "Moderate Buy" by the nine brokerages that are covering the stock, MarketBeat Ratings reports. Four investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is C$14.41.

A number of equities research analysts have recently weighed in on the stock. Canaccord Genuity Group upgraded shares of Ivanhoe Mines from a "hold" rating to a "buy" rating and lifted their price target for the company from C$12.00 to C$13.00 in a research report on Tuesday, July 21st. Scotiabank increased their price target on 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. Finally, Morgan Stanley upgraded Ivanhoe Mines from an "equal weight" rating to an "overweight" rating and raised their price objective for the stock from C$12.00 to C$13.20 in a research note on Wednesday, July 8th.

Ivanhoe Mines Price Performance

TSE:IVN opened at C$11.78 on Tuesday. Ivanhoe Mines has a 52 week low of C$9.45 and a 52 week high of C$20.34. The company has a debt-to-equity ratio of 21.70, a quick ratio of 20.86 and a current ratio of 2.16. The firm's 50-day simple moving average is C$11.13 and its 200 day simple moving average is C$11.80. The firm has a market cap of C$16.80 billion, a price-to-earnings ratio of 130.89 and a beta of 1.58.

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

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.