Ivanhoe Mines (TSE:IVN) had its price objective lifted by research analysts at Canaccord Genuity from C$7.00 to C$7.50 in a research report issued on Monday, BayStreet.CA reports. Canaccord Genuity’s price objective would suggest a potential upside of 144.30% from the company’s current price.
Several other brokerages have also weighed in on IVN. CIBC upped their price objective on Ivanhoe Mines from C$2.50 to C$3.30 in a report on Friday, March 29th. Royal Bank of Canada upped their price objective on Ivanhoe Mines from C$4.00 to C$5.00 in a report on Thursday, February 7th. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Ivanhoe Mines presently has an average rating of “Buy” and an average price target of C$6.18.
Shares of Ivanhoe Mines stock opened at C$3.07 on Monday. The company has a quick ratio of 19.52, a current ratio of 19.78 and a debt-to-equity ratio of 1.86. The firm has a market capitalization of $3.20 billion and a PE ratio of 102.33. Ivanhoe Mines has a fifty-two week low of C$2.00 and a fifty-two week high of C$3.59.
Ivanhoe Mines Ltd. engages in the exploration, development, and recovery of minerals and precious metals located primarily in Africa. The company explores for platinum, palladium, nickel, copper, gold, rhodium, zinc, germanium, and lead deposits. Its projects include the Platreef project located in the Northern Limb of South Africa's Bushveld Complex; the Kipushi project located on the DRC's Copperbelt; and the Kamoa-Kakula project located within the Central African Copperbelt in the Democratic Republic of Congo (DRC).
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