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

Shares of Ivanhoe Mines Ltd. (TSE:IVN) have been given an average rating of “Buy” by the eight analysts that are covering the stock, MarketBeat Ratings reports. Eight equities research analysts have rated the stock with a buy rating. The average 1-year price target among brokers that have issued a report on the stock in the last year is C$23.18.

A number of equities analysts have recently issued reports on IVN shares. UBS Group dropped their price target on Ivanhoe Mines from C$21.00 to C$19.00 in a research note on Friday, February 21st. Scotiabank dropped their target price on Ivanhoe Mines from C$21.00 to C$20.00 and set an “outperform” rating on the stock in a research report on Thursday, January 9th. Citigroup reduced their price target 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. Raymond James lowered 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. Finally, 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.

Ivanhoe Mines Price Performance

Shares of TSE:IVN opened at C$14.95 on Friday. 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 firm has a market cap of C$14.17 billion, a price-to-earnings ratio of 90.39 and a beta of 1.94. The business has a 50-day simple moving average of C$15.39 and a two-hundred day simple moving average of C$17.36. Ivanhoe Mines has a fifty-two week low of C$12.15 and a fifty-two week high of C$21.32.

About Ivanhoe Mines

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.