Ivanhoe Mines (TSE:IVN) Receives New Price Target of C$13.00 at Scotiabank

Ivanhoe Mines (TSE:IVN – Get Appraisal) had its price target lowered by Scotiabank investment analysts from C$15.00 to C$13.00 in a research note released to investors on Thursday, BayStreet.CA reports. Scotiabank’s target price suggests a potential upside of 71.50% from the company’s previous close.

Several other analysts have also recently published reports on IVN. Raymond James set a price target of C$13.50 on Ivanhoe Mines shares and gave the company an “outperform” rating in a Thursday, May 12 research note. Citigroup downgraded Ivanhoe Mines shares from a “neutral” rating to a “buy” rating and raised its target price for the company from C$9.00 to C$15.00 in a research report from the Tuesday, March 15. According to data from MarketBeat, Ivanhoe Mines has an average buy rating and a consensus price target of C$13.89.

TSE IVN opened at C$7.58 on Thursday. The company has a quick ratio of 20.02, a current ratio of 22.47 and a debt ratio of 20.64. The company has a market capitalization of C$9.18 billion and a PE ratio of 126.33. The company has a 50-day moving average price of CA$9.17 and a 200-day moving average price of CA$10.51. Ivanhoe Mines has a 52-week low of C$6.84 and a 52-week high of C$13.15.

Ivanhoe Mines (TSE:IVN – Get Rating) last reported quarterly earnings data on Tuesday, May 10. The company reported earnings per share of C$0.03 for the quarter, beating consensus analyst estimates of C$0.01 by C$0.02. On average, equity research analysts expect Ivanhoe Mines to post 0.8 earnings per share for the current fiscal year.

Company Profile Ivanhoé Mines (Get a rating)

Ivanhoe Mines Ltd. is engaged in the exploration, development and recovery of minerals and precious metals located primarily in Africa. It explores deposits of platinum, palladium, nickel, copper, gold, rhodium, zinc, silver, germanium and lead. The Company’s projects include the Platreef Project located in the Northern Branch of the Bushveld Complex in South Africa; the Kipushi project located in the Province of Haut-Katanga, Democratic Republic of Congo; and the Kamoa-Kakula project located in the Central African Copperbelt.

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