Ivanhoe Mines (TSE:IVN) Stock Price Up 6.1% on Analyst Upgrade

Ivanhoe Mines Ltd. (TSE:IVN) shares rose 6.1% 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 stock traded as high as C$11.28 and last traded at C$10.90. Approximately 2,980,011 shares were traded during mid-day trading, an increase of 26% from the average daily volume of 2,358,494 shares. The stock had previously closed at C$10.27.

A number of other equities research analysts have also issued reports on IVN. Scotiabank dropped their target price 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. TD Securities cut 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 report on Thursday, January 9th. Citigroup lowered their target price 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. 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 report on Thursday, January 9th. Finally, UBS Group lowered their price objective on Ivanhoe Mines from C$21.00 to C$19.00 in a research note on Friday, February 21st. Eight research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of C$23.00.

Ivanhoe Mines Stock Performance

The company has a quick ratio of 20.86, a current ratio of 1.36 and a debt-to-equity ratio of 2.48. The firm has a market capitalization of C$10.33 billion, a PE ratio of 65.90 and a beta of 1.94. The firm has a 50-day moving average price of C$14.74 and a 200 day moving average price of C$17.13.

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.