UBS Group Has Lowered Expectations for Ivanhoe Mines (TSE:IVN) Stock Price

Ivanhoe Mines (TSE:IVN) had its price objective reduced by research analysts at UBS Group from C$17.00 to C$15.00 in a research report issued to clients and investors on Thursday,BayStreet.CA reports. UBS Group’s price target would indicate a potential upside of 51.82% from the stock’s current price.

Several other equities analysts have also issued reports on IVN. TD Securities decreased their target price on Ivanhoe Mines from C$22.00 to C$17.00 in a research note on Tuesday, April 15th. Scotiabank lowered Ivanhoe Mines from a “strong-buy” rating to a “hold” rating and decreased their target price for the stock from C$16.00 to C$12.00 in a research note on Thursday. Citigroup decreased their target price 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. Finally, Jefferies Financial Group decreased their target price on Ivanhoe Mines from C$19.00 to C$17.00 in a research note on Thursday. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, Ivanhoe Mines presently has an average rating of “Moderate Buy” and an average target price of C$18.30.

Ivanhoe Mines Stock Performance

Shares of Ivanhoe Mines stock opened at C$9.88 on Thursday. Ivanhoe Mines has a 52 week low of C$8.76 and a 52 week high of C$20.95. The business’s fifty day simple moving average is C$12.35 and its 200-day simple moving average is C$14.83. The firm has a market cap of C$9.37 billion, a PE ratio of 59.73 and a beta of 1.94. The company has a quick ratio of 20.86, a current ratio of 1.36 and a debt-to-equity ratio of 2.48.

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.