Ivanhoe Mines Ltd. (TSE:IVN - Get Free Report)'s share price crossed below its fifty day moving average during trading on Wednesday . The stock has a fifty day moving average of C$11.90 and traded as low as C$10.31. Ivanhoe Mines shares last traded at C$10.65, with a volume of 5,416,812 shares trading hands.
Wall Street Analysts Forecast Growth
Several brokerages recently weighed in on IVN. Scotiabank lowered Ivanhoe Mines from a "strong-buy" rating to a "hold" rating and cut their price target for the company from C$16.00 to C$12.00 in a research note on Thursday, June 12th. UBS Group cut their price target on Ivanhoe Mines from C$17.00 to C$15.00 in a research note on Thursday, June 12th. Canaccord Genuity Group cut their price target on Ivanhoe Mines from C$24.00 to C$12.00 in a research note on Friday, June 13th. Royal Bank Of Canada cut their price objective on Ivanhoe Mines from C$24.00 to C$15.00 and set an "outperform" rating for the company in a research note on Tuesday, June 17th. Finally, TD Securities decreased their target price on Ivanhoe Mines from C$16.00 to C$13.00 and set a "buy" rating on the stock in a research report on Friday, June 13th. One analyst has rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of C$16.80.
Read Our Latest Stock Report on IVN
Ivanhoe Mines Price Performance
The company has a debt-to-equity ratio of 2.48, a current ratio of 1.36 and a quick ratio of 20.86. The stock has a 50 day moving average price of C$11.79 and a 200-day moving average price of C$13.83. The stock has a market capitalization of C$9.88 billion, a price-to-earnings ratio of 63.00 and a beta of 1.94.
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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