Ivanhoe Mines price target lowered to C$24 from C$25 at Jefferies

Jefferies analyst Matthew Murphy lowered the firm’s price target on Ivanhoe Mines (IVPAF) to C$24 from C$25 and keeps a Buy rating on the shares. The firm continues to see gold price support from central bank purchases and the Fed rate cut cycle, albeit at a slower pace than previously envisaged, and is calling for $2,658/oz gold and $4.15/lb copper in 2025, the analyst tells investors.