Ivanhoe Mines (TSE:IVN) Price Target Increased to C$7.00 by Analysts at Royal Bank of Canada

Ivanhoe Mines (TSE:IVN) had its price target lifted by Royal Bank of Canada from C$6.00 to C$7.00 in a research note issued to investors on Tuesday, BayStreet.CA reports.

Several other research firms have also commented on IVN. Canaccord Genuity increased their price target on shares of Ivanhoe Mines from C$7.00 to C$7.50 in a research report on Monday, April 15th. CIBC increased their price target on shares of Ivanhoe Mines from C$3.40 to C$4.50 in a research report on Monday, July 15th.

Shares of IVN opened at C$4.00 on Tuesday. The company has a quick ratio of 24.63, a current ratio of 24.96 and a debt-to-equity ratio of 2.72. The business’s 50-day moving average is C$4.11. Ivanhoe Mines has a twelve month low of C$2.00 and a twelve month high of C$4.54. The firm has a market capitalization of $4.21 billion and a price-to-earnings ratio of 108.11.

Ivanhoe Mines (TSE:IVN) last issued its earnings results on Wednesday, May 8th. The company reported C$0.01 earnings per share for the quarter, topping the consensus estimate of C($0.02) by C$0.03. Sell-side analysts predict that Ivanhoe Mines will post 0.07 EPS for the current fiscal year.

In other news, Senior Officer Martin Forrester Bawlf sold 39,916 shares of the stock in a transaction that occurred on Thursday, July 11th. The shares were sold at an average price of C$4.13, for a total value of C$164,853.08. Following the sale, the insider now directly owns 589,016 shares in the company, valued at C$2,432,636.08. Also, Senior Officer Mark Sean Farren sold 20,000 shares of the stock in a transaction that occurred on Thursday, May 9th. The shares were sold at an average price of C$3.22, for a total transaction of C$64,400.00. Following the completion of the sale, the insider now owns 324,887 shares in the company, valued at C$1,046,136.14. Insiders sold 91,616 shares of company stock worth $357,965 over the last quarter.

About Ivanhoe Mines

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, as well as explores Western Foreland project in the Democratic Republic of Congo.

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