Ivanhoe Mines (TSE:IVN) PT Lowered to C$11.00

Ivanhoe Mines (TSE:IVN) had its price target decreased by equities research analysts at Bank of America from C$11.50 to C$11.00 in a research note issued on Wednesday, BayStreet.CA reports. Bank of America‘s target price points to a potential upside of 31.26% from the stock’s previous close.

Several other equities research analysts have also recently issued reports on the stock. Raymond James raised their target price on shares of Ivanhoe Mines from C$12.00 to C$12.50 and gave the stock an “outperform” rating in a research report on Wednesday, June 9th. TD Securities raised their target price on shares of Ivanhoe Mines from C$11.50 to C$12.00 and gave the stock a “na” rating in a research report on Wednesday, June 30th. Scotiabank boosted their price objective on shares of Ivanhoe Mines from C$10.00 to C$11.00 in a research note on Monday, July 12th. Finally, BMO Capital Markets raised their price objective on Ivanhoe Mines from C$10.00 to C$15.00 and gave the company an “outperform” rating in a research report on Friday, June 11th. One analyst has rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, Ivanhoe Mines presently has an average rating of “Buy” and an average target price of C$11.36.

Shares of Ivanhoe Mines stock traded up C$0.23 during mid-day trading on Wednesday, hitting C$8.38. 1,704,203 shares of the stock were exchanged, compared to its average volume of 2,105,832. Ivanhoe Mines has a twelve month low of C$4.51 and a twelve month high of C$10.22. The stock has a market capitalization of C$10.13 billion and a price-to-earnings ratio of -82.06. The company has a 50-day simple moving average of C$9.38 and a 200 day simple moving average of C$8.66. The company has a current ratio of 31.28, a quick ratio of 28.56 and a debt-to-equity ratio of 21.07.

About Ivanhoe Mines

Ivanhoe Mines Ltd. engages in the exploration, development, and recovery of minerals and precious metals located 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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