Ivanhoe Mines (TSE:IVN) Cut to “Hold” at Scotiabank

Scotiabank cut shares of Ivanhoe Mines (TSE:IVN) from a strong-buy rating to a hold rating in a research report sent to investors on Thursday morning, MarketBeat reports. The firm currently has C$12.00 target price on the stock, down from their prior target price of C$16.00.

Other analysts also recently issued reports about the company. UBS Group reduced their target price on Ivanhoe Mines from C$19.00 to C$17.00 in a research note on Wednesday, April 23rd. 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 research report on Tuesday, February 25th. TD Securities dropped their price target on shares of Ivanhoe Mines from C$22.00 to C$17.00 in a research report on Tuesday, April 15th. Finally, Jefferies Financial Group raised their price target on shares of Ivanhoe Mines from C$23.00 to C$24.00 in a research report on Friday, April 4th. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of C$18.30.

Ivanhoe Mines Stock Down 1.1%

Shares of IVN opened at C$9.88 on Thursday. Ivanhoe Mines has a 52 week low of C$8.76 and a 52 week high of C$20.95. The stock has a market capitalization of C$9.37 billion, a price-to-earnings ratio of 59.73 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 stock has a fifty day moving average of C$12.33 and a 200-day moving average of C$14.77.

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.