Canaccord Genuity Group Has Lowered Expectations for Ivanhoe Mines (TSE:IVN) Stock Price

Ivanhoe Mines (TSE:IVN - Get Free Report) had its price target reduced by Canaccord Genuity Group from C$24.00 to C$12.00 in a research report issued on Friday,BayStreet.CA reports. Canaccord Genuity Group's target price would indicate a potential upside of 12.15% from the company's current price.

Several other research firms have also recently weighed in on IVN. TD Securities reduced their price target on Ivanhoe Mines from C$22.00 to C$17.00 in a report on Tuesday, April 15th. Citigroup decreased their price target on shares of Ivanhoe Mines from C$24.00 to C$20.00 and set a "buy" rating for the company in a research report on Tuesday, February 25th. UBS Group cut their price target on shares of Ivanhoe Mines from C$17.00 to C$15.00 in a report on Thursday. Scotiabank cut shares of Ivanhoe Mines from a "strong-buy" rating to a "hold" rating and reduced their price objective for the stock from C$16.00 to C$12.00 in a research note on Thursday. Finally, Jefferies Financial Group lowered their target price on Ivanhoe Mines from C$19.00 to C$17.00 in a research report on Thursday. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the stock presently 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 during midday trading on Friday, reaching C$10.70. 5,408,805 shares of the company were exchanged, compared to its average volume of 3,212,644. The stock's 50-day moving average price is C$12.33 and its 200-day moving average price is C$14.71. The stock has a market cap of C$10.14 billion, a P/E ratio of 64.69 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. Ivanhoe Mines has a one year low of C$8.76 and a one year high of C$20.95.

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.