Ivanhoe Mines (TSE:IVN) Stock Rating Upgraded by Scotiabank

Key Points

• Scotiabank upgraded Ivanhoe Mines from a "sector perform" rating to an "outperform" rating, with a new target price of C$17.00, suggesting a potential upside of 15.96%.
• The stock has experienced a price increase, trading up C$0.54 to C$14.66, with a market capitalization of C$19.85 billion.
• Several analysts have offered varying ratings on Ivanhoe Mines, with a consensus average rating of "Buy" and a price target of C$16.30 from MarketBeat.com.

Ivanhoe Mines (TSE:IVN - Get Free Report) was upgraded by equities research analysts at Scotiabank from a "hold" rating to an "outperform" rating in a report issued on Monday, Marketbeat Ratings reports. The brokerage currently has a C$17.00 price target on the stock, up from their previous price target of C$12.50. Scotiabank's price objective would suggest a potential upside of 15.96% from the company's previous close.

A number of other equities analysts also recently commented on the company. Royal Bank Of Canada cut their price objective on Ivanhoe Mines from C$24.00 to C$15.00 and set an "outperform" rating on the stock in a report on Tuesday, June 17th. TD Securities cut their price objective on 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. Citigroup cut their price objective on Ivanhoe Mines from C$20.00 to C$14.00 in a report on Monday, June 16th. Stifel Canada upgraded Ivanhoe Mines to a "strong-buy" rating in a report on Tuesday, July 8th. Finally, BMO Capital Markets cut their price objective on Ivanhoe Mines from C$24.00 to C$21.00 in a report on Friday, June 13th. One research analyst has rated the stock with a Strong Buy rating and five have given a Buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus target price of C$16.30.

Ivanhoe Mines Stock Up 3.8%

Shares of TSE:IVN opened at C$14.66 on Monday. The stock's 50-day moving average price is C$12.06 and its two-hundred day moving average price is C$12.04. The company has a current ratio of 1.36, a quick ratio of 20.86 and a debt-to-equity ratio of 2.48. Ivanhoe Mines has a 12-month low of C$8.76 and a 12-month high of C$20.91. The firm has a market cap of C$19.85 billion, a price-to-earnings ratio of 50.55 and a beta of 1.79.

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.