Citigroup Cuts Ivanhoe Mines (TSE:IVN) Price Target to C$14.00

Ivanhoe Mines (TSE:IVN - Free Report) had its price objective decreased by Citigroup from C$20.00 to C$14.00 in a report issued on Monday morning,BayStreet.CA reports.

Several other brokerages have also commented on IVN. BMO Capital Markets decreased their price objective on shares of Ivanhoe Mines from C$24.00 to C$21.00 in a research report on Friday, June 13th. TD Securities decreased their price objective on shares of Ivanhoe Mines from C$16.00 to C$13.00 and set a "buy" rating for the company in a research report on Friday, June 13th. UBS Group decreased their price objective on shares of Ivanhoe Mines from C$17.00 to C$15.00 in a research report on Thursday, June 12th. Canaccord Genuity Group decreased their price objective on shares of Ivanhoe Mines from C$24.00 to C$12.00 in a research report on Friday, June 13th. Finally, Jefferies Financial Group decreased their price objective on shares of Ivanhoe Mines from C$19.00 to C$17.00 in a research report on Thursday, June 12th. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company's stock. Based on data from MarketBeat, Ivanhoe Mines currently has a consensus rating of "Moderate Buy" and an average target price of C$16.80.

Ivanhoe Mines Stock Performance

Shares of Ivanhoe Mines stock traded down C$0.29 during midday trading on Monday, hitting C$10.21. The company had a trading volume of 908,940 shares, compared to its average volume of 3,181,276. The stock has a market cap of C$9.68 billion, a price-to-earnings ratio of 61.73 and a beta of 1.94. The company has a quick ratio of 20.86, a current ratio of 1.36 and a debt-to-equity ratio of 2.48. The company has a fifty day simple moving average of C$12.27 and a 200 day simple moving average of C$14.59. Ivanhoe Mines has a 12-month low of C$8.76 and a 12-month high of C$20.95.

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.