UBS Group Issues Pessimistic Forecast for Ivanhoe Mines (TSE:IVN) Stock Price

Ivanhoe Mines (TSE:IVN) had its price target lowered by UBS Group from C$17.00 to C$15.00 in a report issued on Thursday,BayStreet.CA reports.

A number of other equities analysts also recently weighed in on IVN. Scotiabank downgraded shares of Ivanhoe Mines from an “outperform” rating to a “sector perform” rating and cut their price target for the stock from C$16.00 to C$12.00 in a report on Thursday. TD Securities lowered their price objective on shares of Ivanhoe Mines from C$22.00 to C$17.00 in a research report on Tuesday, April 15th. Citigroup reduced their target price 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, Jefferies Financial Group lowered their price target on shares of Ivanhoe Mines from C$19.00 to C$17.00 in a report on Thursday. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of C$19.25.

Ivanhoe Mines Stock Down 7.2%

IVN stock opened at C$9.99 on Thursday. The stock has a market cap of C$9.47 billion, a P/E ratio of 60.40 and a beta of 1.94. 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 stock’s fifty day simple moving average is C$12.37 and its two-hundred day simple moving average is C$14.89. Ivanhoe Mines has a 1-year low of C$8.76 and a 1-year 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.