Ivanhoe Mines (TSE:IVN) Sets New 12-Month Low - Time to Sell?

Ivanhoe Mines Ltd. (TSE:IVN - Get Free Report)'s stock price reached a new 52-week low during trading on Thursday . The stock traded as low as C$12.02 and last traded at C$12.05, with a volume of 533066 shares traded. The stock had previously closed at C$13.05.

Analyst Ratings Changes

IVN has been the topic of a number of recent research reports. TD Securities cut their price objective on Ivanhoe Mines from C$25.00 to C$24.00 and set a "buy" rating on the stock in a research report on Thursday, January 9th. Citigroup reduced their price target on Ivanhoe Mines from C$24.00 to C$20.00 and set a "buy" rating on the stock in a research report on Tuesday, February 25th. Raymond James decreased their price objective on Ivanhoe Mines from C$25.00 to C$24.00 and set an "outperform" rating for the company in a research note on Thursday, January 9th. Jefferies Financial Group raised their target price on shares of Ivanhoe Mines from C$23.00 to C$24.00 in a report on Friday. Finally, Scotiabank lowered their price target on shares of Ivanhoe Mines from C$21.00 to C$20.00 and set an "outperform" rating for the company in a report on Thursday, January 9th. Eight analysts have rated the stock with a buy rating, Based on data from MarketBeat, Ivanhoe Mines currently has a consensus rating of "Buy" and an average target price of C$23.00.

Ivanhoe Mines Stock Performance

The company has a current ratio of 1.36, a quick ratio of 20.86 and a debt-to-equity ratio of 2.48. The stock has a market cap of C$10.31 billion, a price-to-earnings ratio of 65.78 and a beta of 1.94. The stock's 50 day moving average is C$14.64 and its two-hundred day moving average is C$17.08.

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.