Ivanhoe Mines (IVN) Sets New 12-Month Low Following Analyst Downgrade
Shares of Ivanhoe Mines Ltd (TSE:IVN) reached a new 52-week low during trading on Thursday after Royal Bank of Canada lowered their price target on the stock from C$6.00 to C$5.00. Royal Bank of Canada currently has an outperform rating on the stock. Ivanhoe Mines traded as low as C$2.90 and last traded at C$2.91, with a volume of 2015644 shares traded. The stock had previously closed at C$3.09.
Several other analysts have also recently commented on IVN. Raymond James reduced their target price on shares of Ivanhoe Mines from C$6.50 to C$5.75 and set an “outperform” rating for the company in a research note on Tuesday. TD Securities reduced their target price on shares of Ivanhoe Mines from C$7.00 to C$6.50 and set a “speculative buy” rating for the company in a research note on Tuesday. CIBC reduced their target price on shares of Ivanhoe Mines from C$4.00 to C$3.50 in a research note on Friday, March 23rd. Finally, BMO Capital Markets set a C$8.00 target price on shares of Ivanhoe Mines and gave the stock an “outperform” rating in a research note on Tuesday, February 13th. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of C$6.08.
Ivanhoe Mines (TSE:IVN) last announced its quarterly earnings data on Tuesday, May 8th. The company reported C($0.01) EPS for the quarter.
About Ivanhoe Mines
Ivanhoe Mines Ltd. engages in the exploration, development, and recovery of minerals and precious metals located primarily in Africa. The company explores for platinum, palladium, nickel, copper, gold, rhodium, zinc, germanium, and lead deposits. Its projects include the Platreef project located in the Northern Limb of South Africa's Bushveld Complex; the Kipushi project located on the DRC's Copperbelt; and the Kamoa-Kakula project located within the Central African Copperbelt in the Democratic Republic of Congo (DRC).
Receive News & Ratings for Ivanhoe Mines Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ivanhoe Mines and related companies with MarketBeat.com's FREE daily email newsletter.