Ivanhoe Mines (TSE:IVN) Hits New 1-Year Low After Analyst Downgrade

Ivanhoe Mines Ltd. (TSE:IVN) shares reached 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.

IVN has been the subject of a number of other research reports. UBS Group cut their target price on shares of Ivanhoe Mines from C$17.00 to C$15.00 in a research note on Thursday. BMO Capital Markets lowered their price target on shares of Ivanhoe Mines from C$24.00 to C$21.00 in a research report on Friday. Canaccord Genuity Group lowered their price target on shares of Ivanhoe Mines from C$24.00 to C$12.00 in a research report on Friday. Scotiabank lowered shares of Ivanhoe Mines from a “strong-buy” rating to a “hold” rating and lowered their price target for the stock from C$16.00 to C$12.00 in a research report on Thursday. Finally, Jefferies Financial Group lowered their price target on shares of Ivanhoe Mines from C$19.00 to C$17.00 in a research report on Thursday. One analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of C$18.30.

Ivanhoe Mines Stock Down 1.1%

The company has a market capitalization of C$9.37 billion, a price-to-earnings ratio of 59.73 and a beta of 1.94. 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 firm’s fifty day simple moving average is C$12.33 and its two-hundred day simple moving average is C$14.77.

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.