Ivanhoe Mines Ltd. (TSE:IVN) Given Consensus Recommendation of “Buy” by Brokerages

Shares of Ivanhoe Mines Ltd. (TSE:IVN) have earned a consensus rating of “Buy” from the eight analysts that are presently covering the stock, MarketBeat reports. Eight analysts have rated the stock with a buy recommendation. The average 12 month target price among analysts that have covered the stock in the last year is C$24.30.

IVN has been the topic of several research reports. Scotiabank boosted their price objective on shares of Ivanhoe Mines from C$21.00 to C$22.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 8th. Royal Bank of Canada lowered their price target on Ivanhoe Mines from C$25.00 to C$24.00 and set an “outperform” rating on the stock in a report on Tuesday, September 10th. Canaccord Genuity Group boosted their target price on shares of Ivanhoe Mines from C$24.00 to C$25.00 in a research report on Monday, July 22nd. TD Securities increased their price objective on shares of Ivanhoe Mines from C$23.00 to C$25.00 in a research note on Monday, July 22nd. Finally, Jefferies Financial Group boosted their price target on Ivanhoe Mines from C$25.00 to C$26.00 in a report on Friday, July 12th.

Ivanhoe Mines Price Performance

IVN stock opened at C$19.75 on Wednesday. The stock has a market cap of C$26.66 billion, a PE ratio of 123.44 and a beta of 1.94. The company has a debt-to-equity ratio of 4.24, a current ratio of 1.17 and a quick ratio of 20.86. Ivanhoe Mines has a one year low of C$9.89 and a one year high of C$21.32. The firm has a 50 day simple moving average of C$18.59 and a two-hundred day simple moving average of C$18.50.

Ivanhoe Mines (TSE:IVN) last issued its earnings results on Wednesday, July 31st. The company reported C$0.08 EPS for the quarter, topping the consensus estimate of C$0.07 by C$0.01. On average, analysts predict that Ivanhoe Mines will post 1.0136483 EPS for the current fiscal year.

Ivanhoe Mines Company Profile

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.