Ivanhoe Mines (TSE:IVN) Given New C$15.00 Price Target at Royal Bank Of Canada

Ivanhoe Mines (TSE:IVN) had its price target lowered by Royal Bank Of Canada from C$24.00 to C$15.00 in a research note published on Tuesday,BayStreet.CA reports. Royal Bank Of Canada currently has an outperform rating on the stock.

A number of other equities analysts have also recently issued reports on IVN. TD Securities cut their price objective on Ivanhoe Mines from C$16.00 to C$13.00 and set a “buy” rating for the company in a report on Friday, June 13th. UBS Group cut their target price on Ivanhoe Mines from C$17.00 to C$15.00 in a research note on Thursday, June 12th. BMO Capital Markets reduced their price target on shares of Ivanhoe Mines from C$24.00 to C$21.00 in a research report on Friday, June 13th. Canaccord Genuity Group lowered their price objective on shares of Ivanhoe Mines from C$24.00 to C$12.00 in a report on Friday, June 13th. Finally, Scotiabank cut shares of Ivanhoe Mines from a “strong-buy” rating to a “hold” rating and cut their price objective for the company from C$16.00 to C$12.00 in a research note on Thursday, June 12th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Ivanhoe Mines currently has an average rating of “Moderate Buy” and an average price target of C$16.80.

Ivanhoe Mines Stock Performance

TSE:IVN opened at C$10.42 on Tuesday. The stock has a market cap of C$9.88 billion, a P/E ratio of 63.00 and a beta of 1.94. The company has a quick ratio of 20.86, a current ratio of 1.36 and a debt-to-equity ratio of 2.48. The business’s 50-day moving average price is C$12.33 and its two-hundred day moving average price is C$14.68. Ivanhoe Mines has a twelve month low of C$8.76 and a twelve month 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.