Citigroup Has Lowered Expectations for Ivanhoe Mines (TSE:IVN) Stock Price

Ivanhoe Mines (TSE:IVN) had its price target decreased by equities research analysts at Citigroup from C$24.00 to C$20.00 in a report released on Tuesday,BayStreet.CA reports. The brokerage presently has a “buy” rating on the stock. Citigroup’s price target would indicate a potential upside of 35.14% from the stock’s previous close.

A number of other analysts have also recently weighed in on IVN. UBS Group dropped their target price on shares of Ivanhoe Mines from C$21.00 to C$19.00 in a report on Friday. Raymond James lowered their price target on Ivanhoe Mines from C$25.00 to C$24.00 and set an “outperform” rating on the stock in a report on Thursday, January 9th. TD Securities lowered their price target on Ivanhoe Mines from C$25.00 to C$24.00 and set a “buy” rating on the stock in a research report on Thursday, January 9th. Finally, Scotiabank dropped 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. Eight equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of C$23.18.

Ivanhoe Mines Stock Up 0.9 %

Shares of TSE:IVN traded up C$0.13 during mid-day trading on Tuesday, hitting C$14.80. 1,263,769 shares of the company traded hands, compared to its average volume of 1,751,748. The firm has a market cap of C$14.03 billion, a P/E ratio of 89.48 and a beta of 1.94. The firm’s 50 day simple moving average is C$16.67 and its 200 day simple moving average is C$17.74. The company has a debt-to-equity ratio of 2.48, a quick ratio of 20.86 and a current ratio of 1.36. Ivanhoe Mines has a 52-week low of C$13.84 and a 52-week high of C$21.32.

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.