Ivanhoe Mines (TSE:IVN) Sets New 52-Week Low – Time to Sell?

Ivanhoe Mines Ltd. (TSE:IVN) shares reached a new 52-week low during trading on Wednesday . The stock traded as low as C$12.15 and last traded at C$12.84, with a volume of 5396716 shares traded. The stock had previously closed at C$12.68.

Analysts Set New Price Targets

A number of research firms have recently issued reports on IVN. Citigroup dropped their target price on 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. UBS Group dropped their target price on Ivanhoe Mines from C$21.00 to C$19.00 in a report on Friday, February 21st. Scotiabank dropped their target price on Ivanhoe Mines from C$21.00 to C$20.00 and set an “outperform” rating on the stock in a report on Thursday, January 9th. TD Securities dropped their target price on Ivanhoe Mines from C$25.00 to C$24.00 and set a “buy” rating on the stock in a report on Thursday, January 9th. Finally, Raymond James dropped their target price on Ivanhoe Mines from C$25.00 to C$24.00 and set an “outperform” rating on the stock in a report on Thursday, January 9th. Eight analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of C$23.18.

Ivanhoe Mines Stock Performance

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 stock has a market capitalization of C$13.49 billion, a PE ratio of 86.03 and a beta of 1.94. The stock has a 50 day moving average of C$16.10 and a two-hundred day moving average of C$17.62.

Ivanhoe Mines Company Profile

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.