Ivanhoe Mines Cl A (IVN) Receives a Buy from RBC Capital


In a new note to investors today, an analyst has provided a rating update for the Materials sector company, Ivanhoe Mines Cl A (IVN). Analyst Sam Crittenden from RBC Capital rated Ivanhoe Mines Cl A (IVN) a Buy, setting a C$6 price target.

According to TipRanks.com, Crittenden is a 1-star analyst with an average return of -4.2% and a 46.2% success rate. Crittenden covers the Basic Materials sector, focusing on stocks such as Teck Resources Limited, Warrior Met Coal Llc, and Lundin Mining.

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Currently, the analyst consensus on Ivanhoe Mines Cl A is a Moderate Buy with an average price target of C$5.80.

Based on Ivanhoe Mines Cl A’s latest earnings release for the quarter ending March 31, the company reported a quarterly net profit of C$7.91 million. In comparison, last year the company had a GAAP net loss of C$7.3 million.

Ivanhoe Mines Ltd. is a mining development company, which engages in the exploration and development of mineral properties. Its projects include Platreef Project, Kamao-Kakila Project, Western Foreland Project, and Kipushi Project. The company was founded by Robert Martin Friedland on April 29, 1993 and is headquartered in Vancouver, Canada.

The company’s shares closed on Thursday at C$4.11, close to its 52-week high of C$4.16.

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