Ivanhoe Mines (TSE:IVN) Downgraded to Sector Perform Rating by Scotiabank

Scotiabank downgraded shares of Ivanhoe Mines (TSE:IVN) from an outperform rating to a sector perform rating in a research report released on Thursday,BayStreet.CA reports. The firm currently has C$12.00 target price on the stock, down from their prior target price of C$16.00.

IVN has been the topic of a number of other research reports. Citigroup cut 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, February 25th. UBS Group reduced their price target on Ivanhoe Mines from C$19.00 to C$17.00 in a research report on Wednesday, April 23rd. Jefferies Financial Group raised their price target on Ivanhoe Mines from C$23.00 to C$24.00 in a report on Friday, April 4th. Finally, TD Securities reduced their price objective on shares of Ivanhoe Mines from C$22.00 to C$17.00 in a report on Tuesday, April 15th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, Ivanhoe Mines has an average rating of “Moderate Buy” and a consensus price target of C$19.25.

Ivanhoe Mines Stock Performance

Shares of IVN opened at C$9.99 on Thursday. The firm has a fifty day moving average of C$12.37 and a 200-day moving average of C$14.89. The company has a market cap of C$9.47 billion, a price-to-earnings ratio of 60.40 and a beta of 1.94. The company has a debt-to-equity ratio of 2.48, a quick ratio of 20.86 and a current ratio of 1.36. Ivanhoe Mines has a 1 year low of C$8.76 and a 1 year high of C$20.95.

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.