Ivanhoe Mines Ltd. (TSE:IVN - Get Free Report)'s stock price shot up 8.6% during 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.
Wall Street Analysts Forecast Growth
A number of brokerages have commented on IVN. Raymond James decreased their price objective on Ivanhoe Mines from C$25.00 to C$24.00 and set an "outperform" rating for the company in a report on Thursday, January 9th. TD Securities decreased their price target on Ivanhoe Mines from C$25.00 to C$24.00 and set a "buy" rating for the company in a report on Thursday, January 9th. Scotiabank dropped their price objective on Ivanhoe Mines from C$21.00 to C$20.00 and set an "outperform" rating on the stock in a research note on Thursday, January 9th. Jefferies Financial Group upped their target price on shares of Ivanhoe Mines from C$23.00 to C$24.00 in a research note on Friday, April 4th. Finally, Citigroup lowered their target price on shares of 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. Eight analysts have rated the stock with a buy rating, According to MarketBeat.com, Ivanhoe Mines currently has an average rating of "Buy" and an average target price of C$23.20.
Check Out Our Latest Research Report on IVN
Ivanhoe Mines Stock Performance
The company has a market cap of C$11.17 billion, a P/E ratio of 71.22 and a beta of 1.94. The business has a fifty day moving average of C$14.12 and a 200 day moving average of C$16.82. The company has a quick ratio of 20.86, a current ratio of 1.36 and a debt-to-equity ratio of 2.48.
Ivanhoe Mines Company Profile
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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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