Ivanhoe Mines Ltd. (TSE:IVN - Get Free Report) shares traded up 8.7% during mid-day trading on Monday after Jefferies Financial Group raised their price target on the stock from C$23.00 to C$24.00. The stock traded as high as C$11.39 and last traded at C$11.16. 4,755,394 shares were traded during mid-day trading, an increase of 100% from the average session volume of 2,378,872 shares. The stock had previously closed at C$10.27.
Other analysts have also recently issued research reports about the stock. Raymond James cut their price target on shares of Ivanhoe Mines from C$25.00 to C$24.00 and set an "outperform" rating for the company in a research note on Thursday, January 9th. Citigroup reduced their price target on Ivanhoe Mines from C$24.00 to C$20.00 and set a "buy" rating for the company 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 note on Friday, February 21st. Scotiabank reduced their target price 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. Finally, TD Securities decreased their target price on Ivanhoe Mines from C$25.00 to C$24.00 and set a "buy" rating on the stock in a report on Thursday, January 9th. Eight 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 target price of C$23.20.
Read Our Latest Stock Analysis on Ivanhoe Mines
Ivanhoe Mines Price Performance
The company has a fifty day simple moving average of C$14.12 and a two-hundred day simple moving average of C$16.82. The stock has a market capitalization of C$11.17 billion, a price-to-earnings ratio of 71.22 and a beta of 1.94. The company has a debt-to-equity ratio of 2.48, a quick ratio of 20.86 and a current ratio of 1.36.
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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