Scotiabank Forecasts Strong Price Appreciation for Ivanhoe Mines (TSE:IVN) Stock

Ivanhoe Mines (TSE:IVN - Free Report) had its price target increased by Scotiabank from C$12.00 to C$12.50 in a research note issued to investors on Wednesday,BayStreet.CA reports. They currently have a sector perform rating on the stock.

Several other analysts have also issued reports on the stock. TD Securities reduced their price objective on shares of Ivanhoe Mines from C$16.00 to C$13.00 and set a "buy" rating on the stock in a report on Friday, June 13th. Jefferies Financial Group cut their price objective on shares of Ivanhoe Mines from C$19.00 to C$17.00 in a report on Thursday, June 12th. Canaccord Genuity Group cut their price objective on shares of Ivanhoe Mines from C$24.00 to C$12.00 in a report on Friday, June 13th. UBS Group cut their price objective on shares of Ivanhoe Mines from C$17.00 to C$15.00 in a report on Thursday, June 12th. Finally, Raymond James Financial raised shares of Ivanhoe Mines to a "moderate buy" rating in a report on Monday, June 30th. One analyst has rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Ivanhoe Mines presently has an average rating of "Buy" and an average price target of C$16.85.

Ivanhoe Mines Trading Down 2.8%

Shares of TSE IVN traded down C$0.31 during trading on Wednesday, hitting C$10.67. 4,192,166 shares of the company were exchanged, compared to its average volume of 3,400,577. 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 quick ratio of 20.86 and a current ratio of 1.36. The company has a fifty day moving average price of C$11.53 and a 200-day moving average price of C$13.62. The firm has a market capitalization of C$10.12 billion, a PE ratio of 64.51 and a beta of 1.94.

About Ivanhoe Mines

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.