Brokerages Set Ivanhoe Mines Ltd. (TSE:IVN) Target Price at C$24.30

Shares of Ivanhoe Mines Ltd. (TSE:IVN - Get Free Report) have been assigned an average rating of "Buy" from the eight research firms that are covering the company, MarketBeat.com reports. Eight research analysts have rated the stock with a buy rating. The average 12-month price objective among analysts that have issued a report on the stock in the last year is C$24.30.

A number of research analysts have issued reports on IVN shares. Canaccord Genuity Group increased their target price on shares of Ivanhoe Mines from C$24.00 to C$25.00 in a report on Monday, July 22nd. TD Securities increased their target price on shares of Ivanhoe Mines from C$23.00 to C$25.00 in a report on Monday, July 22nd. Jefferies Financial Group increased their target price on shares of Ivanhoe Mines from C$25.00 to C$26.00 in a report on Friday, July 12th. Scotiabank raised 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. Finally, Royal Bank of Canada dropped their price objective on shares of Ivanhoe Mines from C$25.00 to C$24.00 and set an "outperform" rating for the company in a research note on Tuesday, September 10th.

Ivanhoe Mines Stock Performance

TSE IVN traded down C$0.91 during trading hours on Wednesday, hitting C$18.87. 1,325,998 shares of the stock were exchanged, compared to its average volume of 2,224,939. The company has a market cap of C$25.47 billion, a price-to-earnings ratio of 123.63 and a beta of 1.94. Ivanhoe Mines has a 12-month low of C$9.89 and a 12-month high of C$21.32. The stock has a 50-day moving average of C$18.31 and a 200 day moving average of C$18.44. The company has a quick ratio of 20.86, a current ratio of 1.17 and a debt-to-equity ratio of 4.24.

Ivanhoe Mines (TSE:IVN - Get Free Report) last issued its earnings results on Wednesday, July 31st. The company reported C$0.08 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of C$0.07 by C$0.01. As a group, equities research analysts forecast that Ivanhoe Mines will post 1.0136483 earnings per share for the current year.

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.