Ivanhoe Mines (TSE:IVN) Trading Up 8.6% – Time to Buy?

Ivanhoe Mines Ltd. (TSE:IVN) traded 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 changed hands during mid-day trading, an increase of 132% from the average session volume of 2,400,169 shares. The stock had previously closed at C$10.27.

Analysts Set New Price Targets

IVN has been the topic of a number of recent analyst reports. Raymond James dropped their price target on shares of Ivanhoe Mines from C$25.00 to C$24.00 and set an “outperform” rating on the stock in a research report on Thursday, January 9th. Jefferies Financial Group lifted their target price on shares of Ivanhoe Mines from C$23.00 to C$24.00 in a research report on Friday. UBS Group reduced their target price on Ivanhoe Mines from C$21.00 to C$19.00 in a report on Friday, February 21st. Citigroup decreased their price target on Ivanhoe Mines from C$24.00 to C$20.00 and set a “buy” rating for the company in a research report on Tuesday, February 25th. Finally, TD Securities cut their price objective on Ivanhoe Mines from C$25.00 to C$24.00 and set a “buy” rating on the stock in a research report on Thursday, January 9th. Eight analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Ivanhoe Mines has a consensus rating of “Buy” and a consensus price target of C$23.00.

Ivanhoe Mines Stock Performance

The company has a debt-to-equity ratio of 2.48, a current ratio of 1.36 and a quick ratio of 20.86. The company has a 50 day simple moving average of C$14.64 and a 200-day simple moving average of C$17.08. The firm has a market cap of C$10.41 billion, a PE ratio of 66.38 and a beta of 1.94.

Ivanhoe Mines Company Profile

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.