Ivanhoe Mines Ltd. (TSE:IVN) Receives C$23.18 Average Price Target from Analysts

Shares of Ivanhoe Mines Ltd. (TSE:IVN) have earned an average recommendation of “Buy” from the eight analysts that are covering the company, Marketbeat reports. Eight investment analysts have rated the stock with a buy recommendation. The average twelve-month price target among brokerages that have covered the stock in the last year is C$23.18.

Several equities analysts recently weighed in on the stock. TD Securities cut their price target on shares of Ivanhoe Mines from C$25.00 to C$24.00 and set a “buy” rating on the stock in a report on Thursday, January 9th. Raymond James cut their price objective on shares of Ivanhoe Mines from C$25.00 to C$24.00 and set an “outperform” rating on the stock in a research note on Thursday, January 9th. Citigroup decreased their target price on shares of Ivanhoe Mines from C$24.00 to C$20.00 and set a “buy” rating for the company in a research report on Tuesday, February 25th. UBS Group cut their price target on Ivanhoe Mines from C$21.00 to C$19.00 in a research report on Friday, February 21st. Finally, Scotiabank reduced their price objective on Ivanhoe Mines from C$21.00 to C$20.00 and set an “outperform” rating for the company in a research note on Thursday, January 9th.

Ivanhoe Mines Trading Down 4.6 %

TSE IVN opened at C$14.41 on Friday. Ivanhoe Mines has a 12-month low of C$12.15 and a 12-month high of C$21.32. The company has a fifty day simple moving average of C$15.32 and a two-hundred day simple moving average of C$17.32. The company has a current ratio of 1.36, a quick ratio of 20.86 and a debt-to-equity ratio of 2.48. The stock has a market cap of C$13.66 billion, a P/E ratio of 87.12 and a beta of 1.94.

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.