Citigroup Cuts Ivanhoe Mines (TSE:IVN) Price Target to C$20.00

Ivanhoe Mines (TSE:IVN) had its price target lowered by Citigroup from C$24.00 to C$20.00 in a research note issued to investors on Tuesday,BayStreet.CA reports. The brokerage currently has a buy rating on the stock.

A number of other research firms also recently weighed in on IVN. TD Securities lowered 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. Scotiabank decreased their price objective on Ivanhoe Mines from C$21.00 to C$20.00 and set an “outperform” rating on the stock in a research note on Thursday, January 9th. Raymond James decreased 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 note on Thursday, January 9th. Finally, UBS Group decreased their price objective on Ivanhoe Mines from C$21.00 to C$19.00 in a research note on Friday, February 21st. Eight investment analysts have rated the stock with a buy rating, According to MarketBeat, the stock has an average rating of “Buy” and a consensus target price of C$23.18.

Ivanhoe Mines Stock Down 4.7 %

IVN stock opened at C$13.93 on Tuesday. Ivanhoe Mines has a fifty-two week low of C$13.88 and a fifty-two week high of C$21.32. The business’s 50-day moving average is C$16.56 and its two-hundred day moving average is C$17.71. 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 company has a market cap of C$13.21 billion, a price-to-earnings ratio of 84.22 and a beta of 1.94.

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.