Ivanhoe Mines Ltd. (TSE:IVN - Get Free Report)'s share price hit a new 52-week low on Friday after TD Securities lowered their price target on the stock from C$16.00 to C$13.00. TD Securities currently has a buy rating on the stock. Ivanhoe Mines traded as low as C$8.76 and last traded at C$9.99, with a volume of 14634245 shares changing hands. The stock had previously closed at C$10.77.
Several other brokerages have also recently weighed in on IVN. Canaccord Genuity Group reduced their price target on shares of Ivanhoe Mines from C$24.00 to C$12.00 in a research report on Friday. 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. Citigroup decreased their target price on shares of 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. UBS Group dropped their price target on Ivanhoe Mines from C$17.00 to C$15.00 in a research report on Thursday. Finally, Scotiabank cut 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. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of C$18.30.
Check Out Our Latest Analysis on IVN
Ivanhoe Mines Price 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 company has a market capitalization of C$9.37 billion, a PE ratio of 59.73 and a beta of 1.94. The stock's 50-day moving average is C$12.35 and its two-hundred day moving average is C$14.83.
About Ivanhoe Mines
(
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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.
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