Ivanhoe Mines (TSE:IVN) Trading Up 8.6% – What’s Next?

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

Wall Street Analyst Weigh In

A number of analysts recently commented on IVN shares. Scotiabank dropped their price target on Ivanhoe Mines from C$21.00 to C$20.00 and set an “outperform” rating for the company in a research note on Thursday, January 9th. TD Securities lowered their price objective on Ivanhoe Mines from C$25.00 to C$24.00 and set a “buy” rating for the company in a research note on Thursday, January 9th. Citigroup cut their price target on shares of Ivanhoe Mines from C$24.00 to C$20.00 and set a “buy” rating on the stock in a report on Tuesday, February 25th. UBS Group dropped their price objective on Ivanhoe Mines from C$21.00 to C$19.00 in a research report on Friday, February 21st. Finally, Jefferies Financial Group upped their price objective on Ivanhoe Mines from C$23.00 to C$24.00 in a research report on Friday. Eight analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of C$23.00.

Ivanhoe Mines Stock Up 1.7 %

The company has a quick ratio of 20.86, a current ratio of 1.36 and a debt-to-equity ratio of 2.48. The company has a market capitalization of C$10.75 billion, a PE ratio of 68.56 and a beta of 1.94. The company’s 50 day moving average is C$14.64 and its two-hundred day moving average is C$17.08.

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.