TD Securities lowered its price target on Ivanhoe Mines Ltd. (IVN.TO) to $13 from $16 on Friday.
Analyst Craig Hutchison maintained a Buy rating on shares of the Canadian mining company following the release of its 2025 outlook.
'We have made significant reductions to our estimates to reflect IVN's Kakula update, including cutting our 2025-2027 production estimates, increasing costs and trimming our target price multiple," Hutchison said in a note to clients.
"We believe the shares could remain under pressure for the remainder of this year, but we still see LT value in them, at 0.78x NAV, well below peers," the analyst said.
(MT Newswires covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www.mtnewswires.com/contact-us)
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