Ivanhoe Mines (TSE:IVN) Reaches New 12-Month High at $19.00

Ivanhoe Mines Ltd. (TSE:IVN) shares hit a new 52-week high during trading on Tuesday . The stock traded as high as C$19.00 and last traded at C$18.92, with a volume of 3404224 shares trading hands. The stock had previously closed at C$18.95.

Analysts Set New Price Targets

IVN has been the topic of several recent analyst reports. Bank of America lifted their price target on Ivanhoe Mines from C$15.50 to C$21.00 in a research note on Tuesday, April 9th. TD Securities increased their target price on shares of Ivanhoe Mines from C$17.00 to C$17.50 and gave the stock a “buy” rating in a report on Wednesday, February 28th. Canaccord Genuity Group increased their target price on Ivanhoe Mines from C$16.00 to C$21.00 in a research report on Wednesday. Finally, Raymond James lifted their target price on shares of Ivanhoe Mines from C$18.00 to C$19.00 in a research report on Wednesday, March 20th. Five analysts have rated the stock with a buy rating, According to MarketBeat.com, Ivanhoe Mines currently has an average rating of “Buy” and an average target price of C$18.31.

Ivanhoe Mines Stock Up 0.2 %

The company has a debt-to-equity ratio of 18.08, a quick ratio of 20.86 and a current ratio of 3.28. The stock’s 50 day simple moving average is C$15.63 and its 200 day simple moving average is C$13.34. The firm has a market cap of C$24.59 billion, a P/E ratio of 54.22 and a beta of 2.00.

Ivanhoe Mines (TSE:IVN) last posted its 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). Research analysts anticipate that Ivanhoe Mines Ltd. will post 0.5149972 EPS for the current year.

Insider Transactions at Ivanhoe Mines

In related news, Senior Officer Stephen Ralph Amos sold 2,489 shares of Ivanhoe Mines stock in a transaction that occurred on Saturday, January 20th. The stock was sold at an average price of C$13.24, for a total transaction of C$32,941.92. In other Ivanhoe Mines news, Director Setha Patricia Makhesha sold 3,295 shares of the company’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. Also, Senior Officer Stephen Ralph Amos sold 2,489 shares of Ivanhoe Mines stock in a transaction that occurred on Saturday, January 20th. The stock was sold at an average price of C$13.24, for a total transaction of C$32,941.92. Insiders sold a total of 10,784 shares of company stock valued at $157,394 over the last ninety days. 50.86% of the stock is currently owned by insiders.

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.