Ivanhoe Mines Ltd. (TSE:IVN) Receives C$16.85 Average Price Target from Analysts

Ivanhoe Mines Ltd. (TSE:IVN - Get Free Report) has been assigned a consensus rating of "Buy" from the five ratings firms that are covering the company, MarketBeat.com reports. One analyst has rated the stock with a hold recommendation, three have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price objective among brokers that have covered the stock in the last year is C$16.85.

IVN has been the subject of several recent research reports. Raymond James Financial raised shares of Ivanhoe Mines to a "moderate buy" rating in a report on Monday, June 30th. BMO Capital Markets reduced their target price on shares of Ivanhoe Mines from C$24.00 to C$21.00 in a report on Friday, June 13th. Canaccord Genuity Group reduced their target price on shares of Ivanhoe Mines from C$24.00 to C$12.00 in a report on Friday, June 13th. Scotiabank raised their target price on shares of Ivanhoe Mines from C$12.00 to C$12.50 and gave the stock a "sector perform" rating in a report on Wednesday. Finally, Jefferies Financial Group reduced their target price on shares of Ivanhoe Mines from C$19.00 to C$17.00 in a report on Thursday, June 12th.

Ivanhoe Mines Stock Down 2.8%

Shares of IVN traded down C$0.31 during mid-day trading on Thursday, hitting C$10.67. The company's stock had a trading volume of 4,192,166 shares, compared to its average volume of 3,400,577. The company's 50-day moving average is C$11.53 and its 200-day moving average is C$13.57. Ivanhoe Mines has a 52-week low of C$8.76 and a 52-week high of C$20.95. The firm has a market capitalization of C$10.12 billion, a price-to-earnings ratio of 64.51 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.