Ivanhoe Mines (TSE:IVN) Trading Up 8.6% - Should You Buy?

Ivanhoe Mines Ltd. (TSE:IVN - Get Free Report)'s stock price was up 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 mid-day trading, an increase of 132% from the average daily volume of 2,400,169 shares. The stock had previously closed at C$10.27.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on IVN. UBS Group decreased their target price on Ivanhoe Mines from C$21.00 to C$19.00 in a research report on Friday, February 21st. Raymond James lowered their target price on shares of 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. Citigroup reduced their price target on shares of 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. Scotiabank decreased their price target on shares of Ivanhoe Mines from C$21.00 to C$20.00 and set an "outperform" rating for the company in a report on Thursday, January 9th. Finally, Jefferies Financial Group lifted their target price on Ivanhoe Mines from C$23.00 to C$24.00 in a report on Friday, April 4th. Eight investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company presently has a consensus rating of "Buy" and an average target price of C$23.20.

Ivanhoe Mines Stock Up 7.9 %

The company has a current ratio of 1.36, a quick ratio of 20.86 and a debt-to-equity ratio of 2.48. The company has a market capitalization of C$11.17 billion, a P/E ratio of 71.22 and a beta of 1.94. The firm's 50 day moving average price is C$14.12 and its two-hundred day moving average price is C$16.81.

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.