Ivanhoe Mines (TSE:IVN) Price Target Cut to C$13.00 by Analysts at TD Securities

Ivanhoe Mines (TSE:IVN - Get Free Report) had its price objective reduced by TD Securities from C$16.00 to C$13.00 in a note issued to investors on Friday,BayStreet.CA reports. The firm currently has a "buy" rating on the stock. TD Securities' price target would indicate a potential upside of 21.50% from the company's previous close.

IVN has been the subject of several other research reports. Jefferies Financial Group dropped their price target on Ivanhoe Mines from C$19.00 to C$17.00 in a research report on Thursday. Canaccord Genuity Group lowered their price objective on Ivanhoe Mines from C$24.00 to C$12.00 in a research note on Friday. BMO Capital Markets cut their target price on Ivanhoe Mines from C$24.00 to C$21.00 in a research report on Friday. Citigroup decreased their price target on Ivanhoe Mines from C$24.00 to C$20.00 and set a "buy" rating on the stock in a report on Tuesday, February 25th. Finally, Scotiabank downgraded Ivanhoe Mines from a "strong-buy" rating to a "hold" rating and lowered their price target for the stock from C$16.00 to C$12.00 in a research report on Thursday. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of C$17.70.

Ivanhoe Mines Price Performance

Shares of TSE:IVN traded up C$0.82 on Friday, reaching C$10.70. The company's stock had a trading volume of 5,408,805 shares, compared to its average volume of 3,212,644. The company has a 50-day simple moving average of C$12.33 and a 200 day simple moving average of C$14.71. Ivanhoe Mines has a 52-week low of C$8.76 and a 52-week high of C$20.95. 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$10.14 billion, a P/E ratio of 64.69 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.