Ivanhoe Mines Ltd (TSE:IVN) had its price objective decreased by CIBC from C$3.10 to C$2.40 in a report issued on Monday morning, MarketBeat.Com reports.

Several other equities research analysts have also issued reports on the company. RBC Capital reiterated an outperform rating and set a C$1.50 price target on shares of Ivanhoe Mines in a report on Thursday, November 19th. Raymond James reduced their price target on Ivanhoe Mines from C$2.00 to C$1.50 and set an outperform rating for the company in a report on Friday, December 4th. Finally, BMO Capital Markets lowered Ivanhoe Mines to a market perform (speculative) rating in a report on Thursday, January 14th. Two investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The stock currently has an average rating of Buy and a consensus price target of C$1.78.

Shares of Ivanhoe Mines (TSE:IVN) opened at 0.55 on Monday. Ivanhoe Mines has a 52-week low of $0.53 and a 52-week high of $1.36. The stock’s 50 day moving average is $0.60 and its 200-day moving average is $0.68. The firm has a market cap of $1.11 billion and a P/E ratio of 3.93.

Ivanhoe Mines Ltd. (TSE:IVN) is a Canada-based mineral exploration and development company, whose principal properties are located in Africa. The Company is engaged in the exploration within the Central African Copperbelt and the Bushveld Complex. The Company’s projects include Kamoa Project, Platreef Project and Kipushi Project. The Company’s Kamoa Project is a copper deposit located in the Central African Copperbelt, in Katanga Province, DRC. The Company’s Platreef Project is a PGE, gold, nickel and copper deposit located on the northern limb of the Bushveld Complex, in South Africa. The Company’s Kipushi Project is underground zinc and copper mine in the Central African Copperbelt, in Katanga Province, DRC. The Company also holds interests in mineral properties in the DRC and Gabon, including a land package of approximately 1,600 square kilometers in the Central African Copperbelt.

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