Stifel Nicolaus Increases Ivanhoe Mines (TSE:IVN) Price Target to C$17.00

Ivanhoe Mines (TSE:IVN – Get Free Report) had its price objective raised by research analysts at Stifel Nicolaus from C$15.00 to C$17.00 in a report issued on Wednesday, BayStreet reports. The brokerage presently has a “buy” rating on the stock. Stifel Nicolaus’ price target would indicate a potential upside of 25.93% from the stock’s previous close.

A number of other research firms have also recently issued reports on IVN. Scotiabank increased their price objective on shares of Ivanhoe Mines from C$13.00 to C$13.50 and gave the stock a “sector perform” rating in a research report on Monday, June 15th. Morgan Stanley raised Ivanhoe Mines from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from C$12.00 to C$13.20 in a research note on Wednesday, July 8th. Finally, Canaccord Genuity Group upgraded Ivanhoe Mines from a “hold” rating to a “buy” rating and increased their price target for the stock from C$12.00 to C$13.00 in a report on Tuesday, July 21st. Five investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat, Ivanhoe Mines has a consensus rating of “Moderate Buy” and a consensus target price of C$14.72.

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Ivanhoe Mines Trading Up 1.6%

Shares of TSE IVN traded up C$0.21 during midday trading on Wednesday, reaching C$13.50. The stock had a trading volume of 6,071,574 shares, compared to its average volume of 4,433,857. The company has a debt-to-equity ratio of 21.70, a quick ratio of 20.86 and a current ratio of 2.16. The company’s 50 day moving average price is C$11.17 and its 200 day moving average price is C$11.78. Ivanhoe Mines has a twelve month low of C$9.45 and a twelve month high of C$20.34. The firm has a market cap of C$19.26 billion, a price-to-earnings ratio of 150.00 and a beta of 1.58.

Ivanhoe Mines (TSE:IVN – Get Free Report) last announced its quarterly earnings data on Wednesday, July 29th. The company reported C$0.04 earnings per share (EPS) for the quarter. The company had revenue of C$216.83 million for the quarter. Ivanhoe Mines had a return on equity of 2.32% and a net margin of 23.46%. As a group, sell-side analysts expect that Ivanhoe Mines will post 1.0136483 EPS for the current year.

About Ivanhoe Mines

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Ivanhoe Mines is a Canadian mining company focused on advancing its three principal operations in Southern Africa; the Kamoa-Kakula Copper Complex in the DRC, the ultra-high-grade Kipushi zinc-copper-germanium-silver mine, also in the DRC; and the tier-one Platreef platinum-palladium-nickel-rhodium-gold-copper mine in South Africa. Ivanhoe Mines is exploring for copper in its highly prospective, 54-100% owned exploration licences in the Western Forelands, covering an area over six times larger than the adjacent Kamoa-Kakula Copper Complex, including the high-grade discoveries in the Makoko District.

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