UBS Group Has Lowered Expectations for Ivanhoe Mines (TSE:IVN) Stock Price

Ivanhoe Mines (TSE:IVN) had its price objective cut by analysts at UBS Group from C$21.00 to C$19.00 in a research report issued to clients and investors on Friday,BayStreet.CA reports. UBS Group’s price target would suggest a potential upside of 23.06% from the stock’s previous close.

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

Ivanhoe Mines Price Performance

Shares of Ivanhoe Mines stock traded down C$1.43 on Friday, reaching C$15.44. 1,210,484 shares of the stock were exchanged, compared to its average volume of 1,707,270. The firm’s 50 day moving average is C$16.79 and its 200-day moving average is C$17.78. Ivanhoe Mines has a one year low of C$13.84 and a one year 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. The firm has a market cap of C$14.64 billion, a PE ratio of 93.35 and a beta of 1.94.

Insider Transactions at Ivanhoe Mines

In related news, Senior Officer Chao (Peter) Zhou sold 4,800 shares of Ivanhoe Mines stock in a transaction dated Monday, November 25th. The stock was sold at an average price of C$19.00, for a total value of C$91,200.00. Company insiders own 44.96% of the company’s stock.

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.