Ivanhoe Mines (TSE:IVN) Shares Down 17.1% – Should You Sell?

Ivanhoe Mines Ltd. (TSE:IVN) fell 17.1% during mid-day trading on Monday . The company traded as low as C$10.49 and last traded at C$10.65. 7,052,541 shares were traded during trading, an increase of 163% from the average session volume of 2,682,183 shares. The stock had previously closed at C$12.85.

Analyst Ratings Changes

A number of brokerages have recently issued reports on IVN. TD Securities dropped their price target on shares of Ivanhoe Mines from C$22.00 to C$17.00 in a report on Tuesday, April 15th. Citigroup dropped their price target on shares of Ivanhoe Mines from C$24.00 to C$20.00 and set a “buy” rating on the stock in a report on Tuesday, February 25th. Jefferies Financial Group increased their price target on Ivanhoe Mines from C$23.00 to C$24.00 in a report on Friday, April 4th. Finally, UBS Group lowered their price target on Ivanhoe Mines from C$19.00 to C$17.00 in a report on Wednesday, April 23rd. Five equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, Ivanhoe Mines has a consensus rating of “Buy” and an average price target of C$21.38.

Ivanhoe Mines Stock Down 17.4%

The stock has a market cap of C$10.06 billion, a PE ratio of 64.15 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. The company’s 50-day moving average price is C$13.04 and its 200 day moving average price is C$15.51.

About Ivanhoe Mines

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.