Ivanhoe Mines (TSE:IVN) Hits New 12-Month Low – Should You Sell?

Ivanhoe Mines Ltd. (TSE:IVN) shares hit a new 52-week low during trading on Thursday . The company traded as low as C$12.02 and last traded at C$12.05, with a volume of 533066 shares changing hands. The stock had previously closed at C$13.05.

Analyst Ratings Changes

Several research analysts recently issued reports on the company. UBS Group cut their target price on Ivanhoe Mines from C$21.00 to C$19.00 in a research report on Friday, February 21st. Scotiabank reduced their target price on Ivanhoe Mines from C$21.00 to C$20.00 and set an “outperform” rating on the stock in a research note on Thursday, January 9th. Citigroup decreased 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 report on Tuesday, February 25th. Raymond James reduced their price objective on Ivanhoe Mines from C$25.00 to C$24.00 and set an “outperform” rating for the company in a research note on Thursday, January 9th. Finally, TD Securities cut their price target on 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 research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of C$23.00.

Ivanhoe Mines Stock Down 11.9 %

The company has a debt-to-equity ratio of 2.48, a current ratio of 1.36 and a quick ratio of 20.86. The firm has a 50 day moving average of C$14.74 and a 200-day moving average of C$17.11. The stock has a market capitalization of C$9.74 billion, a P/E ratio of 62.09 and a beta of 1.94.

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.