Jefferies Financial Group Increases Ivanhoe Mines (TSE:IVN) Price Target to C$18.00

Key Points

• Jefferies Financial Group has raised its price target for Ivanhoe Mines from C$16.00 to C$18.00, suggesting an 18.5% potential upside from the stock's previous close.
• The stock is currently rated as a "Buy" by one analyst with a Strong Buy rating and six analysts issuing a Buy rating, resulting in an average target price of C$16.85.
• Ivanhoe Mines shares rose 1.1% during trading, reaching a price of C$15.19, with a market cap of C$21.56 billion.

Ivanhoe Mines (TSE:IVN - Get Free Report) had its price target hoisted by Jefferies Financial Group from C$16.00 to C$18.00 in a research note issued on Monday,BayStreet.CA reports. Jefferies Financial Group's target price would indicate a potential upside of 18.50% from the stock's previous close.

IVN has been the subject of a number of other reports. Canaccord Genuity Group raised their price objective on Ivanhoe Mines from C$14.00 to C$16.50 and gave the company a "buy" rating in a research report on Wednesday, October 1st. Stifel Canada upgraded shares of Ivanhoe Mines to a "strong-buy" rating in a report on Tuesday, July 8th. BMO Capital Markets cut their target price on shares of Ivanhoe Mines from C$24.00 to C$21.00 in a research note on Friday, June 13th. 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. Finally, Citigroup cut their price objective on shares of Ivanhoe Mines from C$20.00 to C$14.00 in a research report on Monday, June 16th. One investment analyst has rated the stock with a Strong Buy rating and six have issued a Buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Buy" and an average target price of C$16.85.

Ivanhoe Mines Stock Up 1.1%

Shares of TSE:IVN traded up C$0.16 during midday trading on Monday, hitting C$15.19. The stock had a trading volume of 2,813,816 shares, compared to its average volume of 3,352,469. The company has a market cap of C$21.56 billion, a P/E ratio of 52.38 and a beta of 2.09. Ivanhoe Mines has a 12 month low of C$8.76 and a 12 month high of C$20.77. The business's 50-day simple moving average is C$12.30 and its 200-day simple moving average is C$12.03. The company has a quick ratio of 20.86, a current ratio of 1.36 and a debt-to-equity ratio of 2.48.

About Ivanhoe Mines

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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