Ivanhoe Mines (TSE:IVN) Given New C$19.00 Price Target at UBS Group

Ivanhoe Mines (TSE:IVN) had its price objective decreased by analysts at UBS Group from C$21.00 to C$19.00 in a research note issued to investors on Friday,BayStreet.CA reports. UBS Group’s price objective indicates a potential upside of 23.06% from the stock’s current price.

Several other equities analysts also recently weighed in on the company. TD Securities dropped 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 report on Thursday, January 9th. Raymond James decreased their target price on Ivanhoe Mines from C$25.00 to C$24.00 and set an “outperform” rating for the company in a research report on Thursday, January 9th. Finally, Scotiabank cut their price objective on shares of Ivanhoe Mines from C$21.00 to C$20.00 and set an “outperform” rating on the stock in a research report on Thursday, January 9th. Eight equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Ivanhoe Mines has a consensus rating of “Buy” and an average price target of C$23.55.

Ivanhoe Mines Stock Performance

TSE IVN traded down C$1.43 during trading hours on Friday, reaching C$15.44. The stock had a trading volume of 1,210,484 shares, compared to its average volume of 1,707,270. The stock has a fifty day moving average of C$16.79 and a 200 day moving average of C$17.78. The stock has a market cap of C$14.64 billion, a P/E ratio of 93.35 and a beta of 1.94. Ivanhoe Mines has a 52-week low of C$13.84 and a 52-week high of C$21.32. The company has a debt-to-equity ratio of 2.48, a quick ratio of 20.86 and a current ratio of 1.36.

Insider Activity at Ivanhoe Mines

In other news, Senior Officer Chao (Peter) Zhou sold 4,800 shares of the business’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of C$19.00, for a total transaction of C$91,200.00. 44.96% of the stock is currently owned by insiders.

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.