Royal Bank of Canada Lowers Ivanhoe Mines (TSE:IVN) Price Target to C$15.00

Ivanhoe Mines (TSE:IVN) had its target price lowered by analysts at Royal Bank of Canada from C$24.00 to C$15.00 in a research note issued on Tuesday,BayStreet.CA reports. The firm presently has an “outperform” rating on the stock. Royal Bank of Canada’s target price points to a potential upside of 42.99% from the company’s current price.

A number of other research analysts have also weighed in on IVN. TD Securities dropped their price objective on shares of Ivanhoe Mines from C$16.00 to C$13.00 and set a “buy” rating on the stock in a research note on Friday. Citigroup dropped their price target on shares of Ivanhoe Mines from C$20.00 to C$14.00 in a research report on Monday. BMO Capital Markets cut their price target on Ivanhoe Mines from C$24.00 to C$21.00 in a research note on Friday. Canaccord Genuity Group lowered their price objective on Ivanhoe Mines from C$24.00 to C$12.00 in a research note on Friday. Finally, Jefferies Financial Group cut their target price on Ivanhoe Mines from C$19.00 to C$17.00 in a research report on Thursday, June 12th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of C$16.80.

Ivanhoe Mines Trading Down 2.0%

Shares of Ivanhoe Mines stock traded down C$0.21 on Tuesday, reaching C$10.49. 1,414,507 shares of the company’s stock were exchanged, compared to its average volume of 3,196,438. The firm’s 50-day moving average is C$12.33 and its two-hundred day moving average is C$14.68. The company has a market capitalization of C$9.94 billion, a P/E ratio of 63.42 and a beta of 1.94. The company has a debt-to-equity ratio of 2.48, a quick ratio of 20.86 and a current ratio of 1.36. Ivanhoe Mines has a 52 week low of C$8.76 and a 52 week high of C$20.95.

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.