Ivanhoe Mines (TSE:IVN) Stock Price Up 8.6% - Here's Why

Ivanhoe Mines Ltd. (TSE:IVN - Get Free Report) traded 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 mid-day 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 Analyst Weigh In

A number of research analysts recently issued reports on IVN shares. TD Securities reduced their target price 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. Scotiabank reduced their price objective on shares of 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. UBS Group lowered their target price on shares of Ivanhoe Mines from C$21.00 to C$19.00 in a research note on Friday, February 21st. Raymond James cut their price target on 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. Finally, Citigroup lowered their price objective on Ivanhoe Mines from C$24.00 to C$20.00 and set a "buy" rating on the stock in a research report on Tuesday, February 25th. Eight investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus price target of C$23.20.

Ivanhoe Mines Stock Up 7.9 %

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 business's fifty day moving average price is C$14.12 and its two-hundred day moving average price is C$16.82. The stock has a market capitalization of C$11.17 billion, a PE ratio of 71.22 and a beta of 1.94.

About Ivanhoe Mines

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.