Ivanhoe Mines Ltd. (TSE:IVN) Receives Consensus Recommendation of "Buy" from Brokerages

Ivanhoe Mines Ltd. (TSE:IVN - Get Free Report) has been assigned a consensus recommendation of "Buy" from the eight brokerages that are currently covering the company, Marketbeat.com reports. Eight investment analysts have rated the stock with a buy recommendation. The average 1 year price target among brokers that have issued a report on the stock in the last year is C$22.50.

A number of research analysts have issued reports on IVN shares. Jefferies Financial Group boosted their price target on Ivanhoe Mines from C$23.00 to C$24.00 in a report on Friday, April 4th. UBS Group cut their price objective on shares of Ivanhoe Mines from C$21.00 to C$19.00 in a report on Friday, February 21st. Raymond James dropped their target price on Ivanhoe Mines from C$25.00 to C$24.00 and set an "outperform" rating on the stock in a research report on Thursday, January 9th. Citigroup lowered their price target on Ivanhoe Mines from C$24.00 to C$20.00 and set a "buy" rating on the stock in a research report on Tuesday, February 25th. Finally, TD Securities reduced their target price on Ivanhoe Mines from C$22.00 to C$17.00 in a research note on Tuesday, April 15th.

Ivanhoe Mines Price Performance

TSE IVN remained flat at C$12.45 during trading on Wednesday. The company's stock had a trading volume of 2,535,867 shares, compared to its average volume of 2,469,967. The company has a market capitalization of C$11.80 billion, a P/E ratio of 75.27 and a beta of 1.94. Ivanhoe Mines has a fifty-two week low of C$9.79 and a fifty-two week 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. The firm's fifty day moving average is C$13.72 and its 200 day moving average is C$16.56.

Ivanhoe Mines Company Profile

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.