The Globe and Mail reports in its Thursday, April 2, edition that Raymond James analyst Judith Elliott has downgraded Ivanhoe Mines to "market perform" from "outperform." The Globe's David Leeder writes in the Eye On Equities column that Ms. Elliott gave her share target a $6 trim to $17. Analysts on average target the shares at $18.86. Ms. Elliott says in a note: "Overall, the revised 2026/2027 operating guidance (which was reiterated Feb/2026) and medium term (2028+) operating outlook outline lower production and higher costs than recent guidance, and a longer ramp up to steady state throughput of 17 Mtpa. The updated R&R include lower copper grades and contained copper, reflecting more conservative mining assumptions. We are downgrading our rating based on the disappointing updated mine plan relative to the previous plan and multiyear guidance and considering valuation is not necessarily inexpensive to peers." The Globe reported on Feb. 20 that Canaccord Genuity analyst Dalton Baretto had moved his recommendation for Ivanhoe Mines to "hold" from "buy." The shares could then be had for $15.97.