Brokerages Set Ivanhoe Mines Ltd. (TSE:IVN) Target Price at C$23.55

Ivanhoe Mines Ltd. (TSE:IVN) has been given an average rating of “Buy” by the eight research firms that are covering the firm, Marketbeat.com reports. Eight research analysts have rated the stock with a buy rating. The average 12-month target price among brokerages that have covered the stock in the last year is C$23.18.

IVN has been the topic of several research reports. UBS Group lowered their target price on Ivanhoe Mines from C$21.00 to C$19.00 in a research note on Friday, February 21st. TD Securities cut their target price on shares of Ivanhoe Mines from C$25.00 to C$24.00 and set a “buy” rating for the company in a research report on Thursday, January 9th. Citigroup reduced their price objective on Ivanhoe Mines from C$24.00 to C$20.00 and set a “buy” rating on the stock in a research note on Tuesday. Raymond James lowered their price target on shares of Ivanhoe Mines from C$25.00 to C$24.00 and set an “outperform” rating for the company in a report on Thursday, January 9th. Finally, Scotiabank dropped their price objective on Ivanhoe Mines from C$21.00 to C$20.00 and set an “outperform” rating for the company in a report on Thursday, January 9th.

Ivanhoe Mines Trading Down 4.7 %

Shares of IVN stock opened at C$13.93 on Tuesday. The company has a debt-to-equity ratio of 2.48, a quick ratio of 20.86 and a current ratio of 1.36. The company has a market capitalization of C$13.21 billion, a price-to-earnings ratio of 84.22 and a beta of 1.94. The company has a 50-day simple moving average of C$16.56 and a two-hundred day simple moving average of C$17.71. Ivanhoe Mines has a 52-week low of C$13.88 and a 52-week high of C$21.32.

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.