UBS Group Cuts Ivanhoe Mines (TSE:IVN) Price Target to C$17.00

Ivanhoe Mines (TSE:IVN) had its price objective decreased by UBS Group from C$19.00 to C$17.00 in a research report sent to investors on Wednesday morning,BayStreet.CA reports.

Several other brokerages have also recently weighed in on IVN. Scotiabank dropped their price target on shares of Ivanhoe Mines from C$21.00 to C$20.00 and set an “outperform” rating on the stock in a research note on Thursday, January 9th. Jefferies Financial Group lifted their target price on Ivanhoe Mines from C$23.00 to C$24.00 in a research report on Friday, April 4th. TD Securities reduced their price target on Ivanhoe Mines from C$22.00 to C$17.00 in a research report on Tuesday, April 15th. Raymond James lowered their price objective on Ivanhoe Mines from C$25.00 to C$24.00 and set an “outperform” rating on the stock in a research report on Thursday, January 9th. Finally, Citigroup cut their price objective on Ivanhoe Mines from C$24.00 to C$20.00 and set a “buy” rating for the company in a research note on Tuesday, February 25th. Eight equities research analysts have rated the stock with a buy rating, According to MarketBeat, the stock has an average rating of “Buy” and an average price target of C$21.44.

Ivanhoe Mines Stock Performance

IVN opened at C$13.34 on Wednesday. The company’s 50 day moving average is C$13.32 and its 200 day moving average is C$16.35. 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 cap of C$12.65 billion, a price-to-earnings ratio of 80.65 and a beta of 1.94. Ivanhoe Mines has a 12-month low of C$9.79 and a 12-month high of C$21.32.

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.