Ivanhoe Mines (TSE:IVN) Reaches New 12-Month Low - Time to Sell?

Ivanhoe Mines Ltd. (TSE:IVN - Get Free Report) shares hit a new 52-week low on Wednesday . The stock traded as low as C$12.15 and last traded at C$12.84, with a volume of 5396716 shares. The stock had previously closed at C$12.68.

Wall Street Analysts Forecast Growth

IVN has been the subject of several analyst reports. Scotiabank cut 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. TD Securities cut their target price on Ivanhoe Mines from C$25.00 to C$24.00 and set a "buy" rating for the company in a research note on Thursday, January 9th. UBS Group cut their price objective on shares of Ivanhoe Mines from C$21.00 to C$19.00 in a research report on Friday, February 21st. Citigroup reduced their price target on shares of Ivanhoe Mines from C$24.00 to C$20.00 and set a "buy" rating for the company in a research report on Tuesday, February 25th. Finally, Raymond James lowered their price objective 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. Eight investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus target price of C$23.18.

Ivanhoe Mines Stock Performance

The company has a debt-to-equity ratio of 2.48, a current ratio of 1.36 and a quick ratio of 20.86. The company has a 50 day moving average of C$16.03 and a two-hundred day moving average of C$17.61. The company has a market capitalization of C$13.39 billion, a PE ratio of 85.37 and a beta of 1.94.

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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.