Ivanhoe Mines (TSE:IVN) Sets New 12-Month High at $20.23

Ivanhoe Mines Ltd. (TSE:IVN) shares reached a new 52-week high on Friday . The stock traded as high as C$20.23 and last traded at C$20.15, with a volume of 1454248 shares trading hands. The stock had previously closed at C$19.22.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. Bank of America raised their target price on shares of Ivanhoe Mines from C$15.50 to C$21.00 in a research note on Tuesday, April 9th. Eight Capital lifted their price objective on shares of Ivanhoe Mines from C$19.00 to C$30.00 in a research note on Monday. TD Securities lifted their price target on shares of Ivanhoe Mines from C$17.00 to C$17.50 and gave the stock a “buy” rating in a research note on Wednesday, February 28th. Raymond James lifted their price target on shares of Ivanhoe Mines from C$19.00 to C$21.00 in a research note on Tuesday. Finally, Canaccord Genuity Group lifted their price target on shares of Ivanhoe Mines from C$16.00 to C$21.00 in a research note on Wednesday, April 17th. Five investment analysts have rated the stock with a buy rating, According to MarketBeat.com, Ivanhoe Mines presently has a consensus rating of “Buy” and a consensus price target of C$19.94.

Ivanhoe Mines Stock Up 5.9 %

The business’s fifty day moving average is C$16.19 and its two-hundred day moving average is C$13.65. The company has a market cap of C$25.86 billion, a P/E ratio of 56.56 and a beta of 2.00. The company has a debt-to-equity ratio of 18.08, a quick ratio of 20.86 and a current ratio of 3.28.

Ivanhoe Mines (TSE:IVN) last posted its quarterly earnings results on Monday, February 26th. The company reported C$0.03 EPS for the quarter, missing the consensus estimate of C$0.08 by C($0.05). Equities analysts predict that Ivanhoe Mines Ltd. will post 0.5149972 EPS for the current year.

Insider Activity

In other news, Director Setha Patricia Makhesha sold 3,295 shares of the business’s stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of C$14.30, for a total value of C$47,102.03. In other news, Senior Officer Mary Vincelli sold 5,000 shares of Ivanhoe Mines stock in a transaction that occurred on Wednesday, March 13th. The shares were sold at an average price of C$15.47, for a total value of C$77,350.00. Also, Director Setha Patricia Makhesha sold 3,295 shares of Ivanhoe Mines stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of C$14.30, for a total transaction of C$47,102.03. Company insiders own 50.86% of the company’s stock.

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.