Ivanhoe Mines (TSE:IVN) Price Target Raised to C$22.00

Ivanhoe Mines (TSE:IVN - Free Report) had its target price increased by BMO Capital Markets from C$18.00 to C$22.00 in a research note published on Wednesday, BayStreet.CA reports. The firm currently has an outperform rating on the stock.

Several other equities research analysts have also issued reports on the company. Raymond James lifted their price target on Ivanhoe Mines from C$19.00 to C$21.00 in a report on Tuesday, April 23rd. Eight Capital raised their price objective on shares of Ivanhoe Mines from C$19.00 to C$30.00 in a research note on Monday, April 22nd. Canaccord Genuity Group boosted their price target on shares of Ivanhoe Mines from C$21.00 to C$22.00 and gave the company a buy rating in a report on Wednesday. Scotiabank upped 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 note on Wednesday. Finally, Bank of America increased their price target on shares of Ivanhoe Mines from C$15.50 to C$21.00 in a research report on Tuesday, April 9th. Six equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock has an average rating of Buy and a consensus price target of C$21.81.

Ivanhoe Mines Stock Performance

Shares of TSE:IVN traded down C$0.06 during trading on Wednesday, hitting C$18.60. 3,306,122 shares of the company traded hands, compared to its average volume of 2,358,920. Ivanhoe Mines has a one year low of C$9.89 and a one year high of C$20.66. The stock has a market capitalization of C$23.62 billion, a price-to-earnings ratio of 51.67 and a beta of 2.01. The company has a quick ratio of 20.86, a current ratio of 3.28 and a debt-to-equity ratio of 18.08. The business's fifty day moving average is C$16.60 and its 200-day moving average is C$13.90.

Ivanhoe Mines (TSE:IVN - Get Free Report) last announced its earnings results on Monday, February 26th. The company reported C$0.03 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of C$0.08 by C($0.05). As a group, equities analysts predict that Ivanhoe Mines will post 0.4702621 earnings per share for the current fiscal year.

Insider Activity at Ivanhoe Mines

In other news, Senior Officer Mary Vincelli sold 5,000 shares of the firm's stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of C$15.47, for a total transaction of C$77,350.00. In related news, Director Setha Patricia Makhesha sold 3,295 shares of the stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of C$14.30, for a total transaction of C$47,102.03. Also, Senior Officer Mary Vincelli sold 5,000 shares of the firm's stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of C$15.47, for a total transaction of C$77,350.00. 50.85% of the stock is currently owned by corporate 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.