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

Key Points

• Ivanhoe Mines Ltd. (TSE:IVN) has garnered a consensus rating of "Buy" from five analysts, with one hold and three buy ratings, alongside a target price averaging at C$15.50.
• Recent reports have shown varied target price adjustments, including a decrease from C$16.00 to C$13.00 by TD Securities and an increase to C$12.50 by Scotiabank.
• The company's market capitalization stands at C$11.07 billion, with a significant price-to-earnings ratio of 70.62 and a twelve-month price range between C$8.76 and C$20.95.

Ivanhoe Mines Ltd. (TSE:IVN - Get Free Report) has received a consensus rating of "Buy" from the five analysts that are currently covering the firm, Marketbeat reports. One investment analyst has rated the stock with a hold recommendation, three have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year price objective among analysts that have covered the stock in the last year is C$15.50.

Several equities research analysts have recently issued reports on the stock. Citigroup decreased their price objective on shares of Ivanhoe Mines from C$20.00 to C$14.00 in a research report on Monday, June 16th. Royal Bank Of Canada decreased their price objective on shares of Ivanhoe Mines from C$24.00 to C$15.00 and set an "outperform" rating for the company in a research report on Tuesday, June 17th. Stifel Canada raised shares of Ivanhoe Mines to a "strong-buy" rating in a research report on Tuesday, July 8th. Raymond James Financial decreased their price objective on shares of Ivanhoe Mines from C$21.00 to C$20.00 in a research report on Thursday, August 21st. Finally, BMO Capital Markets reduced their price target on shares of Ivanhoe Mines from C$24.00 to C$21.00 in a research report on Friday, June 13th.

Ivanhoe Mines Stock Up 2.9%

Shares of Ivanhoe Mines stock traded up C$0.35 during trading on Friday, hitting C$12.46. 2,559,363 shares of the stock were exchanged, compared to its average volume of 3,244,599. The stock has a market cap of C$16.87 billion, a price-to-earnings ratio of 42.97 and a beta of 1.70. The firm's 50-day moving average price is C$11.17 and its 200 day moving average price is C$12.23. Ivanhoe Mines has a 12-month low of C$8.76 and a 12-month high of C$20.95. The company has a debt-to-equity ratio of 2.48, a current ratio of 1.36 and a quick ratio of 20.86.

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.