Ivanhoe Mines (TSE:IVN) Stock Price Up 8.6% – Here’s What Happened

by · The Cerbat Gem

Ivanhoe Mines Ltd. (TSE:IVN – Get Free Report) shot up 8.6% during mid-day trading on Tuesday . The stock traded as high as C$11.39 and last traded at C$11.15. 5,567,825 shares were traded during trading, an increase of 132% from the average session volume of 2,400,169 shares. The stock had previously closed at C$10.27.

Analyst Upgrades and Downgrades

Several research firms have weighed in on IVN. Raymond James lowered their price objective on shares of Ivanhoe Mines from C$25.00 to C$24.00 and set an “outperform” rating for the company in a research report on Thursday, January 9th. Scotiabank dropped their price objective on shares of Ivanhoe Mines from C$21.00 to C$20.00 and set an “outperform” rating for the company in a research report on Thursday, January 9th. Citigroup lowered their target price on Ivanhoe Mines from C$24.00 to C$20.00 and set a “buy” rating for the company in a research note on Tuesday, February 25th. UBS Group lowered their price objective on Ivanhoe Mines from C$21.00 to C$19.00 in a research report on Friday, February 21st. Finally, TD Securities reduced their target price on shares of Ivanhoe Mines from C$25.00 to C$24.00 and set a “buy” rating on the stock in a research note on Thursday, January 9th. Eight research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of C$23.20.

Read Our Latest Research Report on IVN

Ivanhoe Mines Price Performance

The stock has a market cap of C$10.35 billion, a price-to-earnings ratio of 66.02 and a beta of 1.94. The company has a 50 day simple moving average of C$14.29 and a 200-day simple moving average of C$16.92. The company has a current ratio of 1.36, a quick ratio of 20.86 and a debt-to-equity ratio of 2.48.

Ivanhoe Mines Company Profile

(Get Free Report)

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.

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