Analyst Actions: Ivanhoe Mines Target Price Raised to $7 at BMO Capital; Outperform Reaffirmed
12:34 PM EST, 02/14/2017 (MT Newswires) -- Ivanhoe Mines (IVN.TO) slipped in recent trade after BMO Capital increased its target price to $7 while reiterating an outperform rating.
BMO believes Ivanhoe's portfolio of world-class development assets is undervalued by the market. Fast tracking development and financing milestones should be well received and the joint ventures secured for the Kakula, Kamoa, and Platreef assets will reduce financing burden.
BMO expects net loss per share of $0.03 for both 2016 and 2017. It has narrowed its net loss per share forecast to $0.04 for 2018.
The stock moves at the top half of 52-week range $0.61 - $4.80.
Price: 4.66, Change: -0.04, Percent Change: -0.9