Ivanhoe Mines (TSE:IVN) Shares Up 8.2% Following Analyst Upgrade

Ivanhoe Mines Ltd. (TSE:IVN)’s stock price shot up 8.2% 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 company traded as high as C$11.28 and last traded at C$11.11. 2,590,679 shares changed hands during trading, an increase of 11% from the average session volume of 2,342,699 shares. The stock had previously closed at C$10.27.

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

Ivanhoe Mines Trading Up 6.1 %

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

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.