Ivanhoe Mines (TSE:IVN) Stock Price Up 8.7% on Analyst Upgrade

Ivanhoe Mines Ltd. (TSE:IVN) traded up 8.7% 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$11.39 and last traded at C$11.16. 4,755,394 shares traded hands during trading, an increase of 100% from the average session volume of 2,378,872 shares. The stock had previously closed at C$10.27.

Several other brokerages have also commented on IVN. UBS Group dropped their price target on Ivanhoe Mines from C$21.00 to C$19.00 in a research note on Friday, February 21st. TD Securities dropped 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 research report on Thursday, January 9th. Scotiabank reduced their price target on shares of Ivanhoe Mines from C$21.00 to C$20.00 and set an “outperform” rating on the stock in a research report on Thursday, January 9th. Citigroup dropped their price objective on shares of Ivanhoe Mines from C$24.00 to C$20.00 and set a “buy” rating for the company in a research report on Tuesday, February 25th. Finally, Raymond James decreased their price target on shares of Ivanhoe Mines from C$25.00 to C$24.00 and set an “outperform” rating for the company in a research report on Thursday, January 9th. Eight equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Ivanhoe Mines has an average rating of “Buy” and an average target price of C$23.00.

Ivanhoe Mines Stock Up 8.6 %

The firm has a fifty day simple moving average of C$14.74 and a 200-day simple moving average of C$17.13. The company has a market capitalization of C$10.57 billion, a PE ratio of 67.41 and a beta of 1.94. The company has a debt-to-equity ratio of 2.48, a quick ratio of 20.86 and a current ratio of 1.36.

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.