Analysts Set Ivanhoe Mines Ltd. (TSE:IVN) Target Price at C$23.55

Shares of Ivanhoe Mines Ltd. (TSE:IVN) have received a consensus recommendation of “Buy” from the eight brokerages that are covering the stock, Marketbeat.com reports. Eight investment analysts have rated the stock with a buy rating. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is C$23.18.

Several equities research analysts have recently weighed in on the company. Raymond James decreased their target price on Ivanhoe Mines from C$25.00 to C$24.00 and set an “outperform” rating for the company in a research report on Thursday, January 9th. Citigroup decreased their target price on Ivanhoe Mines from C$24.00 to C$20.00 and set a “buy” rating for the company in a research report on Tuesday, February 25th. UBS Group decreased their target price on Ivanhoe Mines from C$21.00 to C$19.00 in a research report on Friday, February 21st. Scotiabank decreased their target price on Ivanhoe Mines from C$21.00 to C$20.00 and set an “outperform” rating for the company in a research report on Thursday, January 9th. Finally, TD Securities decreased their target price on Ivanhoe Mines from C$25.00 to C$24.00 and set a “buy” rating for the company in a research report on Thursday, January 9th.

Ivanhoe Mines Price Performance

IVN stock opened at C$12.68 on Tuesday. The stock has a 50-day moving average price of C$16.33 and a two-hundred day moving average price of C$17.67. Ivanhoe Mines has a 12-month low of C$12.57 and a 12-month high of C$21.32. The company has a current ratio of 1.36, a quick ratio of 20.86 and a debt-to-equity ratio of 2.48. The company has a market cap of C$12.02 billion, a PE ratio of 76.66 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.