Shares of Ivanhoe Mines Ltd. (TSE:IVN - Get Free Report) 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 were traded during 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 research analysts have recently issued reports on the company. 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 research report on Thursday, January 9th. Raymond James dropped their target price 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. Citigroup reduced their price target on shares of 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. Jefferies Financial Group lifted their price objective on Ivanhoe Mines from C$23.00 to C$24.00 in a report on Friday, April 4th. Finally, UBS Group reduced their target price on Ivanhoe Mines from C$21.00 to C$19.00 in a report on Friday, February 21st. Eight investment analysts have rated the stock with a buy rating, According to MarketBeat.com, Ivanhoe Mines currently has a consensus rating of "Buy" and an average target price of C$23.20.
Check Out Our Latest Stock Report on Ivanhoe Mines
Ivanhoe Mines Stock Performance
The stock has a 50-day moving average of C$14.12 and a 200 day moving average of C$16.82. The stock has a market cap of C$11.17 billion, a PE ratio of 71.22 and a beta of 1.94. 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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