Ivanhoe Mines (TSE:IVN) Shares Down 17.5% – What’s Next?

Ivanhoe Mines Ltd. (TSE:IVN)’s stock price traded down 17.5% during mid-day trading on Monday . The company traded as low as C$10.49 and last traded at C$10.60. 7,824,168 shares traded hands during trading, an increase of 191% from the average session volume of 2,691,944 shares. The stock had previously closed at C$12.85.

Analyst Ratings Changes

A number of research analysts have commented on the stock. Jefferies Financial Group upped their target price on shares of Ivanhoe Mines from C$23.00 to C$24.00 in a research report on Friday, April 4th. Citigroup lowered their price objective 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. TD Securities cut their target price on Ivanhoe Mines from C$22.00 to C$17.00 in a research report on Tuesday, April 15th. Finally, UBS Group decreased their price target on Ivanhoe Mines from C$19.00 to C$17.00 in a research note on Wednesday, April 23rd. Five analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of C$21.38.

Ivanhoe Mines Price Performance

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 stock has a market capitalization of C$10.17 billion, a price-to-earnings ratio of 64.87 and a beta of 1.94. The company has a 50 day moving average of C$13.04 and a 200 day moving average of 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.