Royal Bank Of Canada Cuts Ivanhoe Mines (TSE:IVN) Price Target to C$15.00

Ivanhoe Mines (TSE:IVNFree Report) had its price target reduced by Royal Bank Of Canada from C$24.00 to C$15.00 in a research note published on Tuesday,BayStreet.CA reports. Royal Bank Of Canada currently has an outperform rating on the stock.

Several other equities analysts have also issued reports on IVN. Citigroup cut their price target on shares of Ivanhoe Mines from C$20.00 to C$14.00 in a report on Monday. Scotiabank lowered shares of Ivanhoe Mines from a “strong-buy” rating to a “hold” rating and cut their price target for the stock from C$16.00 to C$12.00 in a report on Thursday, June 12th. Jefferies Financial Group cut their price target on shares of Ivanhoe Mines from C$19.00 to C$17.00 in a report on Thursday, June 12th. TD Securities cut their price target on shares of Ivanhoe Mines from C$16.00 to C$13.00 and set a “buy” rating on the stock in a report on Friday, June 13th. Finally, UBS Group cut their price target on shares of Ivanhoe Mines from C$17.00 to C$15.00 in a report on Thursday, June 12th. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Ivanhoe Mines currently has an average rating of “Moderate Buy” and an average price target of C$16.80.

View Our Latest Analysis on IVN

Ivanhoe Mines Stock Performance

Shares of IVN stock opened at C$10.21 on Tuesday. The firm has a market cap of C$9.68 billion, a price-to-earnings ratio of 61.73 and a beta of 1.94. The company’s 50 day moving average is C$12.27 and its 200 day moving average is C$14.59. The company has a quick ratio of 20.86, a current ratio of 1.36 and a debt-to-equity ratio of 2.48. Ivanhoe Mines has a 52-week low of C$8.76 and a 52-week high of C$20.95.

Ivanhoe Mines Company Profile

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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.

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