Ivanhoe Mines (TSE:IVN) Given New C$20.00 Price Target at Citigroup

Ivanhoe Mines (TSE:IVN) had its target price decreased by Citigroup from C$24.00 to C$20.00 in a report published on Tuesday,BayStreet.CA reports. Citigroup currently has a buy rating on the stock.

A number of other research firms also recently commented on IVN. TD Securities dropped their price objective on 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. UBS Group cut their price objective on Ivanhoe Mines from C$21.00 to C$19.00 in a report on Friday, February 21st. Raymond James decreased their target price on 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. Finally, Scotiabank cut 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 report on Thursday, January 9th. Eight analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of C$23.18.

Ivanhoe Mines Price Performance

Ivanhoe Mines stock opened at C$14.78 on Tuesday. Ivanhoe Mines has a 1 year low of C$13.84 and a 1 year high of C$21.32. The company has a debt-to-equity ratio of 2.48, a quick ratio of 20.86 and a current ratio of 1.36. The firm has a 50 day moving average price of C$16.67 and a 200 day moving average price of C$17.74. The company has a market cap of C$14.01 billion, a price-to-earnings ratio of 89.36 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.