Ivanhoe Mines (TSE:IVN) Price Target Increased to C$30.00 by Analysts at Eight Capital

Ivanhoe Mines (TSE:IVN) had its price objective boosted by Eight Capital from C$19.00 to C$30.00 in a report released on Monday morning, BayStreet.CA reports.

Several other brokerages also recently weighed in on IVN. TD Securities upped their target price on Ivanhoe Mines from C$17.00 to C$17.50 and gave the stock a buy rating in a research note on Wednesday, February 28th. Canaccord Genuity Group upped their target price on Ivanhoe Mines from C$16.00 to C$21.00 in a research note on Wednesday, April 17th. Raymond James upped their target price on Ivanhoe Mines from C$18.00 to C$19.00 in a research note on Wednesday, March 20th. Finally, Bank of America upped their target price on Ivanhoe Mines from C$15.50 to C$21.00 in a research note on Tuesday, April 9th. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Ivanhoe Mines presently has a consensus rating of Buy and a consensus price target of C$19.94.

Ivanhoe Mines Trading Up 4.9 %

Ivanhoe Mines stock opened at C$19.22 on Monday. The company has a current ratio of 3.28, a quick ratio of 20.86 and a debt-to-equity ratio of 18.08. Ivanhoe Mines has a 12 month low of C$9.89 and a 12 month high of C$19.99. The stock’s 50 day simple moving average is C$16.19 and its two-hundred day simple moving average is C$13.65. The firm has a market cap of C$24.41 billion, a PE ratio of 53.39 and a beta of 2.00.

Ivanhoe Mines (TSE:IVN) last released its quarterly earnings data on Monday, February 26th. The company reported C$0.03 EPS for the quarter, missing the consensus estimate of C$0.08 by C($0.05). Analysts anticipate that Ivanhoe Mines will post 0.5149972 earnings per share for the current year.

Insider Activity at Ivanhoe Mines

In related news, Senior Officer Mary Vincelli sold 5,000 shares of the stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of C$15.47, for a total value of C$77,350.00. In other Ivanhoe Mines news, Senior Officer Mary Vincelli sold 5,000 shares of the firm’s stock in a transaction on 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 on Thursday, February 29th. The stock was sold at an average price of C$14.30, for a total value of C$47,102.03. 50.86% of the stock is 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.