Ivanhoe Mines Ltd. (TSE:IVN) Receives Consensus Rating of “Buy” from Analysts

Shares of Ivanhoe Mines Ltd. (TSE:IVN) have been given an average recommendation of “Buy” by the eight brokerages that are presently covering the stock, Marketbeat.com reports. Eight investment analysts have rated the stock with a buy recommendation. The average 1-year target price among brokers that have covered the stock in the last year is C$23.18.

A number of equities research analysts recently issued reports on IVN shares. Citigroup dropped their price objective on shares of Ivanhoe Mines from C$24.00 to C$20.00 and set a “buy” rating for the company in a report on Tuesday, February 25th. Scotiabank dropped their price objective on shares of Ivanhoe Mines from C$21.00 to C$20.00 and set an “outperform” rating for the company in a report on Thursday, January 9th. Raymond James dropped their price objective on shares of Ivanhoe Mines from C$25.00 to C$24.00 and set an “outperform” rating for the company in a report on Thursday, January 9th. TD Securities dropped their price objective on shares of Ivanhoe Mines from C$25.00 to C$24.00 and set a “buy” rating for the company in a report on Thursday, January 9th. Finally, UBS Group dropped their price objective on shares of Ivanhoe Mines from C$21.00 to C$19.00 in a report on Friday, February 21st.

Ivanhoe Mines Price Performance

Ivanhoe Mines stock opened at C$13.73 on Tuesday. 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$13.34 and a 52-week high of C$21.32. The company has a fifty day simple moving average of C$16.43 and a 200-day simple moving average of C$17.67. The firm has a market capitalization of C$13.02 billion, a price-to-earnings ratio of 83.01 and a beta of 1.94.

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.