Ivanhoe Mines (TSE:IVN) Hits New 52-Week Low – Should You Sell?

Ivanhoe Mines Ltd. (TSE:IVN) shares reached a new 52-week low on Thursday . The company traded as low as C$13.91 and last traded at C$13.93, with a volume of 3805778 shares trading hands. The stock had previously closed at C$14.61.

Analyst Ratings Changes

Several research analysts recently weighed in on the stock. UBS Group dropped their target price on shares of Ivanhoe Mines from C$21.00 to C$19.00 in a report on Friday, February 21st. TD Securities dropped their price objective on Ivanhoe Mines from C$25.00 to C$24.00 and set a “buy” rating for the company in a research note on Thursday, January 9th. Scotiabank cut their target price on Ivanhoe Mines from C$21.00 to C$20.00 and set an “outperform” rating for the company in a research report on Thursday, January 9th. Citigroup lowered their price target on Ivanhoe Mines from C$24.00 to C$20.00 and set a “buy” rating on the stock in a report on Tuesday. 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 note on Thursday, January 9th. Eight analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Ivanhoe Mines has an average rating of “Buy” and an average price target of C$23.18.

Ivanhoe Mines Price Performance

The firm has a market cap of C$13.21 billion, a PE ratio of 84.22 and a beta of 1.94. The firm has a fifty day simple moving average of C$16.56 and a two-hundred day simple moving average of C$17.71. The company has a debt-to-equity ratio of 2.48, a quick ratio of 20.86 and a current ratio of 1.36.

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.