Ivanhoe Mines (TSE:IVN) Stock Price Up 8.6% – What’s Next?

Ivanhoe Mines Ltd. (TSE:IVN) rose 8.6% during mid-day trading on Tuesday . The company traded as high as C$11.39 and last traded at C$11.15. Approximately 5,567,825 shares changed hands 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.

Analyst Ratings Changes

IVN has been the topic of several analyst reports. UBS Group cut their target price on shares of Ivanhoe Mines from C$21.00 to C$19.00 in a report on Friday, February 21st. TD Securities lowered 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 research report on Thursday, January 9th. Raymond James reduced their target price on Ivanhoe Mines from C$25.00 to C$24.00 and set an “outperform” rating on the stock in a report on Thursday, January 9th. Scotiabank lowered their price target on 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, Citigroup cut their price objective on Ivanhoe Mines from C$24.00 to C$20.00 and set a “buy” rating on the stock in a report on Tuesday, February 25th. Eight research analysts have rated the stock with a buy rating, According to MarketBeat, the stock has an average rating of “Buy” and a consensus price target of C$23.00.

Ivanhoe Mines Stock Performance

The stock has a fifty day moving average of C$14.64 and a 200-day moving average of C$17.08. The firm has a market capitalization of C$10.75 billion, a P/E ratio of 68.56 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.

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.