Brokerages Set Ivanhoe Mines Ltd. (TSE:IVN) Target Price at C$23.18

Shares of Ivanhoe Mines Ltd. (TSE:IVN) have been assigned an average recommendation of “Buy” from the eight research firms that are presently covering the stock, Marketbeat.com reports. Eight equities research analysts have rated the stock with a buy rating. The average 12 month price target among analysts that have issued a report on the stock in the last year is C$23.18.

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

Ivanhoe Mines Price Performance

Shares of Ivanhoe Mines stock opened at C$13.20 on Friday. The stock has a market capitalization of C$12.51 billion, a P/E ratio of 79.80 and a beta of 1.94. The business has a 50 day simple moving average of C$15.21 and a two-hundred day simple moving average of C$17.26. Ivanhoe Mines has a 12 month low of C$12.15 and a 12 month high of C$21.32. The company has a debt-to-equity ratio of 2.48, a current ratio of 1.36 and a quick ratio of 20.86.

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.