Analysts Set Ivanhoe Mines Ltd. (TSE:IVN) Target Price at C$21.38

Shares of Ivanhoe Mines Ltd. (TSE:IVN) have been given a consensus recommendation of “Buy” by the five research firms that are currently covering the company, Marketbeat Ratings reports. Five research analysts have rated the stock with a buy recommendation. The average 12 month price target among brokerages that have covered the stock in the last year is C$21.38.

A number of equities analysts have recently issued reports on the stock. UBS Group cut their price target on shares of Ivanhoe Mines from C$19.00 to C$17.00 in a report on Wednesday, April 23rd. Citigroup decreased their target price on shares of Ivanhoe Mines from C$24.00 to C$20.00 and set a “buy” rating on the stock in a research report on Tuesday, February 25th. Jefferies Financial Group increased their price objective on shares of Ivanhoe Mines from C$23.00 to C$24.00 in a report on Friday, April 4th. Finally, TD Securities reduced their target price on Ivanhoe Mines from C$22.00 to C$17.00 in a report on Tuesday, April 15th.

Ivanhoe Mines Price Performance

Shares of IVN opened at C$14.64 on Friday. The stock’s 50 day moving average is C$13.10 and its two-hundred day moving average is C$15.86. Ivanhoe Mines has a twelve month low of C$9.79 and a twelve month high of C$21.32. The firm has a market capitalization of C$13.88 billion, a PE ratio of 88.51 and a beta of 1.94. The company has a current ratio of 1.36, a quick ratio of 20.86 and a debt-to-equity ratio of 2.48.

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.