Ivanhoe Mines (TSE:IVN) Shares Down 16.3% - What's Next?

Ivanhoe Mines Ltd. (TSE:IVN - Get Free Report)'s share price dropped 16.3% during trading on Monday . The company traded as low as C$10.49 and last traded at C$10.75. Approximately 6,243,759 shares traded hands during mid-day trading, an increase of 133% from the average daily volume of 2,674,674 shares. The stock had previously closed at C$12.85.

Wall Street Analysts Forecast Growth

IVN has been the topic of a number of recent analyst reports. Citigroup reduced their price objective on Ivanhoe Mines from C$24.00 to C$20.00 and set a "buy" rating on the stock in a research note on Tuesday, February 25th. UBS Group reduced their price objective on Ivanhoe Mines from C$19.00 to C$17.00 in a research note on Wednesday, April 23rd. TD Securities reduced their price objective on Ivanhoe Mines from C$22.00 to C$17.00 in a research note on Tuesday, April 15th. Finally, Jefferies Financial Group boosted their price objective on Ivanhoe Mines from C$23.00 to C$24.00 in a research note on Friday, April 4th. Five equities research analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has a consensus rating of "Buy" and an average target price of C$21.38.

Ivanhoe Mines Stock Down 4.2%

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 firm has a market cap of C$10.17 billion, a price-to-earnings ratio of 64.87 and a beta of 1.94. The firm has a 50 day moving average price of C$12.64 and a 200-day moving average price of C$15.28.

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.