Ivanhoe Mines (TSE:IVN) Price Target Raised to C$18.00

Key Points

• Stifel Nicolaus increased the price target for Ivanhoe Mines from C$16.00 to C$18.00, indicating a potential upside of 24.57% from the current stock price.
• Several analysts have varying ratings for Ivanhoe Mines, with one strong buy and six buy ratings, resulting in a consensus price target of C$17.45.
• Shares of Ivanhoe Mines recently dropped by 4.8%, bringing the stock price down to C$14.45 despite its market cap being C$20.51 billion.

Ivanhoe Mines (TSE:IVN - Get Free Report) had its price objective increased by Stifel Nicolaus from C$16.00 to C$18.00 in a research report issued to clients and investors on Tuesday,BayStreet.CA reports. Stifel Nicolaus' price target points to a potential upside of 24.57% from the stock's current price.

Several other research firms also recently weighed in on IVN. Raymond James Financial dropped their target price on shares of Ivanhoe Mines from C$21.00 to C$20.00 in a research report on Thursday, August 21st. Stifel Canada upgraded shares of Ivanhoe Mines to a "strong-buy" rating in a research report on Tuesday, July 8th. Canaccord Genuity Group upped their target price on shares of Ivanhoe Mines from C$14.00 to C$16.50 and gave the stock a "buy" rating in a research report on Wednesday, October 1st. Citigroup upped their target price on shares of Ivanhoe Mines from C$14.00 to C$18.00 and gave the stock a "buy" rating in a research report on Wednesday, October 8th. Finally, Scotiabank upgraded shares of Ivanhoe Mines from a "hold" rating to an "outperform" rating and upped their target price for the stock from C$12.50 to C$17.00 in a research report on Monday, September 29th. One research analyst has rated the stock with a Strong Buy rating and six have assigned a Buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Buy" and a consensus price target of C$17.45.

Ivanhoe Mines Stock Down 4.8%

Shares of IVN traded down C$0.73 during midday trading on Tuesday, hitting C$14.45. The company had a trading volume of 1,332,961 shares, compared to its average volume of 3,373,049. The company's 50 day moving average price is C$13.25 and its 200 day moving average price is C$12.19. The stock has a market cap of C$20.51 billion, a price-to-earnings ratio of 49.83 and a beta of 2.09. Ivanhoe Mines has a 52 week low of C$8.76 and a 52 week high of C$20.77. The company has a quick ratio of 20.86, a current ratio of 1.36 and a debt-to-equity ratio of 2.48.

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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