Ivanhoe Mines Ltd. (TSE:IVN - Get Free Report) shares shot up 8.6% on Monday after Jefferies Financial Group raised their price target on the stock from C$23.00 to C$24.00. The company traded as high as C$11.39 and last traded at C$11.15. 5,567,825 shares traded hands 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.
Several other research firms also recently weighed in on IVN. Scotiabank dropped 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 report on Thursday, January 9th. TD Securities dropped their price objective on shares of 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. UBS Group reduced their target price on shares of Ivanhoe Mines from C$21.00 to C$19.00 in a report on Friday, February 21st. Citigroup dropped 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 note on Tuesday, February 25th. Finally, Raymond James reduced their price objective on Ivanhoe Mines from C$25.00 to C$24.00 and set an "outperform" rating on the stock in a research note on Thursday, January 9th. Eight research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus price target of C$23.20.
Check Out Our Latest Analysis on Ivanhoe Mines
Ivanhoe Mines Trading Up 7.9 %
The company has a market cap of C$11.17 billion, a price-to-earnings 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. The business's fifty day simple moving average is C$14.12 and its two-hundred day simple moving average is C$16.82.
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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