Ivanhoe Mines (TSE:IVN) Trading 8.6% Higher – Still a Buy?

Ivanhoe Mines Ltd. (TSE:IVN) shares rose 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 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

A number of analysts recently commented on the company. 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. Jefferies Financial Group upped their target price on shares of Ivanhoe Mines from C$23.00 to C$24.00 in a research report on Friday, April 4th. TD Securities lowered their price objective on 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 decreased their price objective 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, Citigroup cut their price objective on shares of 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 analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of C$23.20.

Ivanhoe Mines Stock Performance

The company has a debt-to-equity ratio of 2.48, a current ratio of 1.36 and a quick ratio of 20.86. The firm has a market capitalization of C$10.35 billion, a PE ratio of 66.02 and a beta of 1.94. The firm has a fifty day moving average price of C$14.29 and a 200 day moving average price of C$16.92.

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.