Ivanhoe Mines (TSE:IVN) Stock Price Up 2.9% - Here's Why

Ivanhoe Mines Ltd. (TSE:IVN - Get Free Report)'s share price rose 2.9% during trading on Monday . The stock traded as high as C$12.57 and last traded at C$12.12. Approximately 574,832 shares changed hands during trading, a decline of 77% from the average daily volume of 2,448,490 shares. The stock had previously closed at C$11.78.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on IVN shares. Jefferies Financial Group lifted their price objective on shares of Ivanhoe Mines from C$23.00 to C$24.00 in a report on Friday, April 4th. TD Securities reduced their price objective on Ivanhoe Mines from C$22.00 to C$17.00 in a research report on Tuesday. Citigroup cut 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 dropped their price objective on shares of Ivanhoe Mines from C$21.00 to C$19.00 in a report on Friday, February 21st. Finally, Scotiabank decreased their target price on shares of Ivanhoe Mines from C$21.00 to C$20.00 and set an "outperform" rating on the stock in a report on Thursday, January 9th. Eight equities research analysts have rated the stock with a buy rating, According to MarketBeat, Ivanhoe Mines presently has a consensus rating of "Buy" and a consensus price target of C$22.50.

Ivanhoe Mines Stock Performance

The company's 50 day simple moving average is C$13.72 and its 200 day simple moving average is C$16.61. 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 firm has a market cap of C$11.80 billion, a price-to-earnings ratio of 75.27 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.