Ivanhoe Mines (TSE:IVN) Hits New 52-Week High at $20.73

Ivanhoe Mines Ltd. (TSE:IVN - Get Free Report) shares reached a new 52-week high during mid-day trading on Friday . The stock traded as high as C$20.73 and last traded at C$20.73, with a volume of 501831 shares traded. The stock had previously closed at C$19.85.

Wall Street Analyst Weigh In

A number of research firms recently commented on IVN. TD Securities boosted their price target on Ivanhoe Mines from C$17.00 to C$17.50 and gave the company a "buy" rating in a research note on Wednesday, February 28th. Scotiabank boosted their target price on shares of Ivanhoe Mines from C$18.00 to C$19.00 and gave the company an "outperform" rating in a research report on Wednesday, May 1st. Jefferies Financial Group set a C$25.00 price target on shares of Ivanhoe Mines and gave the stock a "buy" rating in a research report on Friday, May 3rd. Eight Capital boosted their price objective on shares of Ivanhoe Mines from C$19.00 to C$30.00 in a research report on Monday, April 22nd. Finally, BMO Capital Markets upped their target price on Ivanhoe Mines from C$18.00 to C$22.00 and gave the stock an "outperform" rating in a research note on Wednesday, May 1st. Seven equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Ivanhoe Mines currently has an average rating of "Buy" and an average target price of C$22.39.

Ivanhoe Mines Trading Up 6.2 %

The business's 50 day simple moving average is C$17.76 and its two-hundred day simple moving average is C$14.56. The stock has a market cap of C$26.77 billion, a P/E ratio of 110.79 and a beta of 1.98. The company has a quick ratio of 20.86, a current ratio of 0.42 and a debt-to-equity ratio of 18.77.

Ivanhoe Mines (TSE:IVN - Get Free Report) last issued its quarterly earnings data on Monday, February 26th. The company reported C$0.03 earnings per share for the quarter, missing analysts' consensus estimates of C$0.08 by C($0.05). As a group, analysts expect that Ivanhoe Mines Ltd. will post 0.5209327 EPS for the current year.

Insider Activity

In other news, Senior Officer Mary Vincelli sold 5,000 shares of the firm's stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of C$15.47, for a total transaction of C$77,350.00. In other news, Senior Officer Mary Vincelli sold 5,000 shares of the stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of C$15.47, for a total value of C$77,350.00. Also, Director Setha Patricia Makhesha sold 3,295 shares of the firm's stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of C$14.30, for a total value of C$47,102.03. 50.84% of the stock is currently owned by insiders.

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.