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

Shares of Ivanhoe Mines Ltd. (TSE:IVN) traded up 8.6% during trading on Monday after Jefferies Financial Group raised their price target on the stock from C$23.00 to C$24.00. The stock traded as high as C$11.39 and last traded at C$11.15. 5,567,825 shares changed hands during mid-day trading, an increase of 132% from the average session volume of 2,400,170 shares. The stock had previously closed at C$10.27.

A number of other equities research analysts have also weighed in on IVN. TD Securities reduced their price objective on Ivanhoe Mines from C$25.00 to C$24.00 and set a “buy” rating on the stock in a research report on Thursday, January 9th. Citigroup lowered their price objective on 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. Raymond James cut their target price on shares of Ivanhoe Mines from C$25.00 to C$24.00 and set an “outperform” rating on the stock in a research report on Thursday, January 9th. UBS Group decreased their price target on shares of Ivanhoe Mines from C$21.00 to C$19.00 in a research report on Friday, February 21st. Finally, Scotiabank reduced their price objective on shares of Ivanhoe Mines from C$21.00 to C$20.00 and set an “outperform” rating on the stock in a research note on Thursday, January 9th. Eight analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of C$23.00.

Ivanhoe Mines Trading Up 8.6 %

The firm has a fifty day moving average of C$14.74 and a two-hundred day moving average of C$17.13. The company has a market cap of C$10.57 billion, a PE ratio of 67.41 and a beta of 1.94. The company has a current ratio of 1.36, a quick ratio of 20.86 and a debt-to-equity ratio of 2.48.

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.