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

Ivanhoe Mines Ltd. (TSE:IVN)’s share price reached a new 52-week low on Thursday . The company traded as low as C$12.02 and last traded at C$12.05, with a volume of 533066 shares traded. The stock had previously closed at C$13.05.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the company. Raymond James lowered their target price on 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. UBS Group cut their price objective on Ivanhoe Mines from C$21.00 to C$19.00 in a research note on Friday, February 21st. Scotiabank decreased their target price on shares of Ivanhoe Mines from C$21.00 to C$20.00 and set an “outperform” rating on the stock in a report on Thursday, January 9th. TD Securities dropped their price objective on shares of Ivanhoe Mines from C$25.00 to C$24.00 and set a “buy” rating for the company in a report on Thursday, January 9th. Finally, Jefferies Financial Group upped their price target on Ivanhoe Mines from C$23.00 to C$24.00 in a report on Friday. Eight analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company has an average rating of “Buy” and an average target price of C$23.00.

Ivanhoe Mines Stock Performance

The stock has a 50 day moving average price of C$14.74 and a two-hundred day moving average price of C$17.11. The company has a market cap of C$9.74 billion, a price-to-earnings ratio of 62.09 and a beta of 1.94. The company has a current ratio of 1.36, a quick ratio of 20.86 and a debt-to-equity ratio of 2.48.

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.