Brokerages Set Ivanhoe Mines Ltd. (TSE:IVN) Target Price at C$23.18

Shares of Ivanhoe Mines Ltd. (TSE:IVN) have been assigned a consensus rating of “Buy” from the eight analysts that are currently covering the firm, Marketbeat Ratings reports. Eight analysts have rated the stock with a buy recommendation. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is C$23.18.

A number of research analysts recently weighed in on IVN shares. UBS Group dropped their price objective on shares of Ivanhoe Mines from C$21.00 to C$19.00 in a report on Friday, February 21st. Citigroup decreased their price target on shares of 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. Raymond James cut their price objective on Ivanhoe Mines from C$25.00 to C$24.00 and set an “outperform” rating on the stock in a research report on Thursday, January 9th. Scotiabank reduced their target price on shares of Ivanhoe Mines from C$21.00 to C$20.00 and set an “outperform” rating on the stock in a report on Thursday, January 9th. Finally, TD Securities dropped their target price on Ivanhoe Mines from C$25.00 to C$24.00 and set a “buy” rating on the stock in a report on Thursday, January 9th.

Ivanhoe Mines Stock Performance

Shares of Ivanhoe Mines stock opened at C$13.20 on Friday. The company has a debt-to-equity ratio of 2.48, a current ratio of 1.36 and a quick ratio of 20.86. The stock has a market capitalization of C$12.51 billion, a price-to-earnings ratio of 79.80 and a beta of 1.94. The business has a 50-day moving average of C$15.21 and a 200 day moving average of C$17.26. Ivanhoe Mines has a 12 month low of C$12.15 and a 12 month high of C$21.32.

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.