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

Ivanhoe Mines (TSE:IVN) had its price target decreased by Citigroup from C$24.00 to C$20.00 in a report issued on Tuesday,BayStreet.CA reports. The firm presently has a “buy” rating on the stock. Citigroup’s price target would suggest a potential upside of 35.14% from the stock’s current price.

IVN has been the subject of a number of other reports. Scotiabank lowered their price target on shares of Ivanhoe Mines from C$21.00 to C$20.00 and set an “outperform” rating for the company in a research report on Thursday, January 9th. TD Securities dropped their target price on shares of Ivanhoe Mines from C$25.00 to C$24.00 and set a “buy” rating for the company in a research report on Thursday, January 9th. Raymond James lowered their price target 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. Finally, UBS Group dropped their price objective on Ivanhoe Mines from C$21.00 to C$19.00 in a report on Friday. Eight investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Ivanhoe Mines has a consensus rating of “Buy” and an average target price of C$23.18.

Ivanhoe Mines Price Performance

Shares of IVN traded up C$0.13 during trading hours on Tuesday, reaching C$14.80. 1,263,769 shares of the company’s stock traded hands, compared to its average volume of 1,751,748. The firm’s 50 day simple moving average is C$16.67 and its 200-day simple moving average is C$17.74. The stock has a market cap of C$14.03 billion, a PE ratio of 89.48 and a beta of 1.94. Ivanhoe Mines has a 12 month low of C$13.84 and a 12 month high of C$21.32. The company has a current ratio of 1.36, a quick ratio of 20.86 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.