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

Ivanhoe Mines (TSE:IVN) had its target price reduced by investment analysts at Citigroup from C$24.00 to C$20.00 in a note issued to investors on Tuesday,BayStreet.CA reports. The brokerage presently has a “buy” rating on the stock. Citigroup’s price target suggests a potential upside of 36.89% from the company’s previous close.

Other research analysts have also issued research reports about the stock. UBS Group decreased their price target on shares of Ivanhoe Mines from C$21.00 to C$19.00 in a research note on Friday, February 21st. Scotiabank cut their price objective on shares of Ivanhoe Mines from C$21.00 to C$20.00 and set an “outperform” rating for the company in a report on Thursday, January 9th. TD Securities cut their price objective on shares of Ivanhoe Mines from C$25.00 to C$24.00 and set a “buy” rating for the company in a report on Thursday, January 9th. Finally, Raymond James cut their price objective on shares of Ivanhoe Mines from C$25.00 to C$24.00 and set an “outperform” rating for the company in a report on Thursday, January 9th. Eight investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company has an average rating of “Buy” and a consensus price target of C$23.18.

Ivanhoe Mines Trading Down 1.2 %

IVN opened at C$14.61 on Tuesday. The stock has a market capitalization of C$13.85 billion, a P/E ratio of 88.33 and a beta of 1.94. Ivanhoe Mines has a 12 month low of C$13.88 and a 12 month high of C$21.32. The firm’s fifty day simple moving average is C$16.61 and its 200 day simple moving average is C$17.72. The company has a current ratio of 1.36, a quick ratio of 20.86 and a debt-to-equity ratio of 2.48.

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.