Ivanhoe Mines (TSE:IVN) Trading Up 8.6% Following Analyst Upgrade

Ivanhoe Mines Ltd. (TSE:IVN - Get Free Report)'s stock price shot up 8.6% 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 company traded as high as C$11.39 and last traded at C$11.15. 5,567,825 shares changed 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.

Other analysts also recently issued reports about the stock. TD Securities dropped their target price on shares of 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. Raymond James cut their price objective on Ivanhoe Mines from C$25.00 to C$24.00 and set an "outperform" rating for the company in a research report on Thursday, January 9th. UBS Group cut their target price on Ivanhoe Mines from C$21.00 to C$19.00 in a research report on Friday, February 21st. Scotiabank decreased their price target 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. Finally, Citigroup dropped their price target on Ivanhoe Mines from C$24.00 to C$20.00 and set a "buy" rating on the stock in a research note on Tuesday, February 25th. Eight research analysts have rated the stock with a buy rating, According to data from MarketBeat, Ivanhoe Mines presently has a consensus rating of "Buy" and a consensus target price of C$23.20.

Ivanhoe Mines Trading Up 7.9 %

The firm has a market capitalization of C$11.17 billion, a PE ratio of 71.22 and a beta of 1.94. 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 company has a fifty day moving average of C$14.12 and a 200-day moving average of C$16.82.

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.