Ivanhoe Mines (TSE:IVN) Price Target Raised to C$16.50

Key Points

• Canaccord Genuity Group has raised the price target for Ivanhoe Mines from C$14.00 to C$16.50, indicating a potential upside of 12.78% from the current stock price.
• Other analysts, including TD Securities and Citigroup, have also adjusted their price targets, with a consensus rating of "Buy" and an average price target of C$16.75.
• Ivanhoe Mines' stock is currently trading at C$14.63, a 0.9% decline in midday trading, with a market capitalization of approximately C$19.81 billion.

Ivanhoe Mines (TSE:IVN - Get Free Report) had its target price boosted by stock analysts at Canaccord Genuity Group from C$14.00 to C$16.50 in a research note issued on Wednesday,BayStreet.CA reports. The brokerage currently has a "buy" rating on the stock. Canaccord Genuity Group's price target points to a potential upside of 12.78% from the company's current price.

IVN has been the subject of several other research reports. TD Securities boosted their price target on shares of Ivanhoe Mines from C$13.00 to C$16.00 and gave the stock a "buy" rating in a research note on Monday. Citigroup reduced their price target on Ivanhoe Mines from C$20.00 to C$14.00 in a research report on Monday, June 16th. Raymond James Financial decreased their price objective on Ivanhoe Mines from C$21.00 to C$20.00 in a research note on Thursday, August 21st. BMO Capital Markets lowered their price objective on Ivanhoe Mines from C$24.00 to C$21.00 in a research report on Friday, June 13th. Finally, UBS Group reduced their target price on shares of Ivanhoe Mines from C$17.00 to C$15.00 in a report on Thursday, June 12th. One investment analyst has rated the stock with a Strong Buy rating and six have issued a Buy rating to the company. Based on data from MarketBeat.com, Ivanhoe Mines currently has a consensus rating of "Buy" and an average price target of C$16.75.

Ivanhoe Mines Stock Down 0.9%

Shares of TSE IVN traded down C$0.13 during midday trading on Wednesday, hitting C$14.63. The company's stock had a trading volume of 2,234,576 shares, compared to its average volume of 3,341,687. The company has a debt-to-equity ratio of 2.48, a current ratio of 1.36 and a quick ratio of 20.86. The firm has a market capitalization of C$19.81 billion, a price-to-earnings ratio of 50.45 and a beta of 1.79. The business's fifty day simple moving average is C$12.11 and its two-hundred day simple moving average is C$12.06. Ivanhoe Mines has a 1 year low of C$8.76 and a 1 year high of C$20.91.

Ivanhoe Mines Company Profile

Ivanhoe Mines Ltd is a mineral exploration and development company. The company, together with its subsidiaries, explores, develops, and recovers minerals and precious gems from its property interests located in Africa. The group explores platinum, nickel, copper, gold, silver, cobalt, iron, vanadium, and chrome.

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