Analysts Set Ivanhoe Mines Ltd. (TSE:IVN) Target Price at C$16.85

Ivanhoe Mines Ltd. (TSE:IVN) has been given an average rating of “Buy” by the five research firms that are presently covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a hold recommendation, three have given a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is C$16.85.

Several research analysts recently weighed in on IVN shares. UBS Group cut their target price on shares of Ivanhoe Mines from C$17.00 to C$15.00 in a research note on Thursday, June 12th. BMO Capital Markets cut their target price on shares of Ivanhoe Mines from C$24.00 to C$21.00 in a research note on Friday, June 13th. Stifel Canada upgraded Ivanhoe Mines to a “strong-buy” rating in a report on Tuesday, July 8th. Jefferies Financial Group lowered their price target on Ivanhoe Mines from C$19.00 to C$17.00 in a report on Thursday, June 12th. Finally, Canaccord Genuity Group lowered their price target on Ivanhoe Mines from C$24.00 to C$12.00 in a report on Friday, June 13th.

Ivanhoe Mines Price Performance

Shares of IVN opened at C$10.67 on Thursday. The firm’s 50-day simple moving average is C$11.53 and its two-hundred day simple moving average is C$13.59. Ivanhoe Mines has a fifty-two week low of C$8.76 and a fifty-two week high of C$20.95. The company has a debt-to-equity ratio of 2.48, a quick ratio of 20.86 and a current ratio of 1.36. The stock has a market cap of C$10.12 billion, a PE ratio of 64.51 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.