Ivanhoe Mines (TSE:IVN) Price Target Lowered to C$14.00 at Citigroup

Ivanhoe Mines (TSE:IVN) had its price objective reduced by Citigroup from C$20.00 to C$14.00 in a report released on Monday morning,BayStreet.CA reports.

IVN has been the topic of a number of other research reports. TD Securities cut their price target on shares of Ivanhoe Mines from C$16.00 to C$13.00 and set a “buy” rating on the stock in a research note on Friday. BMO Capital Markets cut their target price on Ivanhoe Mines from C$24.00 to C$21.00 in a research report on Friday. Scotiabank cut Ivanhoe Mines from a “strong-buy” rating to a “hold” rating and reduced their target price for the company from C$16.00 to C$12.00 in a report on Thursday, June 12th. Jefferies Financial Group cut their price objective on Ivanhoe Mines from C$19.00 to C$17.00 in a report on Thursday, June 12th. Finally, Canaccord Genuity Group decreased their target price on Ivanhoe Mines from C$24.00 to C$12.00 in a report on Friday. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, Ivanhoe Mines currently has a consensus rating of “Moderate Buy” and a consensus target price of C$17.70.

Ivanhoe Mines Stock Performance

TSE IVN opened at C$10.70 on Monday. The business’s 50-day moving average price is C$12.33 and its 200 day moving average price is C$14.71. 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 has a twelve month low of C$8.76 and a twelve month high of C$20.95. The company has a market capitalization of C$10.14 billion, a PE ratio of 64.69 and a beta of 1.94.

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.