Ivanhoe Mines - IVN Stock Forecast, Price & News

Ivanhoe Mines Ltd. engages in the exploration, development, and recovery of minerals and precious metals located 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. It also holds a 100% interest in the Western Foreland exploration project covering an area of approximately 2,407 square kilometers located in the Democratic Republic of Congo. The company has a strategic partnership agreement with China Nonferrous Metal Mining (Group) Co., Ltd. to examine exploration, development, and acquisition of mineral projects, as well as production, smelting, and logistics opportunities in Africa. Ivanhoe Mines Ltd. was formerly known as Ivanplats Limited and changed its name to Ivanhoe Mines Ltd. in August 2013. The company was incorporated in 1993 and is headquartered in Vancouver, Canada.

Ivanhoe Mines Stock Performance

Ivanhoe Mines stock traded up C$0.36 during mid-day trading on Friday, reaching C$8.06. 1,081,866 shares of the company's stock were exchanged, compared to its average volume of 1,629,391. The business's fifty day simple moving average is C$8.12 and its 200 day simple moving average is C$10.03. The firm has a market capitalization of C$9.77 billion and a PE ratio of 115.14. Ivanhoe Mines has a one year low of C$6.41 and a one year high of C$13.15. The company has a quick ratio of 20.02, a current ratio of 22.47 and a debt-to-equity ratio of 20.64.

Ivanhoe Mines (TSE:IVN - Get Rating) last issued its quarterly earnings results on Tuesday, May 10th. The company reported C$0.03 EPS for the quarter, topping analysts' consensus estimates of C$0.01 by C$0.02. On average, sell-side analysts expect that Ivanhoe Mines will post 0.71 earnings per share for the current year.

Analysts Set New Price Targets

Several research analysts have issued reports on IVN shares. Scotiabank cut their price target on Ivanhoe Mines from C$15.00 to C$13.00 in a report on Thursday, July 7th. Raymond James dropped their target price on Ivanhoe Mines from C$13.50 to C$13.00 and set an "outperform" rating on the stock in a report on Tuesday, July 19th. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock presently has an average rating of "Buy" and an average price target of C$13.83.