Ivanhoe Mines (TSE:IVN) Price Target Lowered to C$15.00 at Royal Bank Of Canada

Ivanhoe Mines (TSE:IVN - Get Free Report) had its price objective reduced by equities researchers at Royal Bank Of Canada from C$24.00 to C$15.00 in a research note issued to investors on Tuesday,BayStreet.CA reports. The firm currently has an "outperform" rating on the stock. Royal Bank Of Canada's price target would suggest a potential upside of 49.25% from the company's current price.

A number of other equities research analysts also recently issued reports on the stock. UBS Group reduced their price target on shares of Ivanhoe Mines from C$17.00 to C$15.00 in a research report on Thursday, June 12th. TD Securities dropped their price objective on Ivanhoe Mines from C$16.00 to C$13.00 and set a "buy" rating for the company in a research note on Friday, June 13th. BMO Capital Markets decreased their target price on Ivanhoe Mines from C$24.00 to C$21.00 in a research report on Friday, June 13th. Canaccord Genuity Group lowered their target price on Ivanhoe Mines from C$24.00 to C$12.00 in a report on Friday, June 13th. Finally, Citigroup cut their price target on Ivanhoe Mines from C$20.00 to C$14.00 in a research note on Monday. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of C$16.80.

Ivanhoe Mines Price Performance

Shares of TSE IVN traded down C$0.16 during trading on Tuesday, hitting C$10.05. 8,618,170 shares of the company were exchanged, compared to its average volume of 3,226,964. The company has a debt-to-equity ratio of 2.48, a current ratio of 1.36 and a quick ratio of 20.86. Ivanhoe Mines has a 1 year low of C$8.76 and a 1 year high of C$20.95. The company has a market cap of C$9.53 billion, a price-to-earnings ratio of 60.76 and a beta of 1.94. The firm's fifty day moving average price is C$12.25 and its 200 day moving average price is C$14.53.

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.