Ivanhoe Mines (TSE:IVN) Shares Down 15.8% - Here's Why

Ivanhoe Mines Ltd. (TSE:IVN - Get Free Report) shares were down 15.8% during trading on Monday . The company traded as low as C$10.49 and last traded at C$10.82. Approximately 5,448,718 shares changed hands during mid-day trading, an increase of 104% from the average daily volume of 2,667,423 shares. The stock had previously closed at C$12.85.

Wall Street Analyst Weigh In

A number of analysts have recently commented on IVN shares. UBS Group dropped their price target on Ivanhoe Mines from C$19.00 to C$17.00 in a research report on Wednesday, April 23rd. Citigroup dropped 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. TD Securities dropped their price target on Ivanhoe Mines from C$22.00 to C$17.00 in a research report on Tuesday, April 15th. Finally, Jefferies Financial Group boosted their price target on Ivanhoe Mines from C$23.00 to C$24.00 in a research report on Friday, April 4th. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company currently has a consensus rating of "Buy" and an average target price of C$21.38.

Ivanhoe Mines Stock Performance

The company has a market capitalization of C$10.70 billion, a PE ratio of 68.26 and a beta of 1.94. The business's fifty day moving average is C$12.80 and its two-hundred day moving average is C$15.39. The company has a current ratio of 1.36, a quick ratio of 20.86 and a debt-to-equity ratio of 2.48.

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.