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

Ivanhoe Mines Ltd. (TSE:IVN)’s stock price traded up 6.1% 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. 2,980,011 shares traded hands during trading, an increase of 26% from the average session volume of 2,358,494 shares. The stock had previously closed at C$10.27.

Several other research firms also recently issued reports on IVN. Raymond James decreased their price objective on shares of Ivanhoe Mines from C$25.00 to C$24.00 and set an “outperform” rating for the company in a research note on Thursday, January 9th. 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 reduced 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 note on Thursday, January 9th. Scotiabank lowered their target price 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. Finally, Citigroup reduced their price target 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. Eight equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of C$23.00.

Ivanhoe Mines Stock Up 6.1 %

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 stock has a market capitalization of C$10.33 billion, a PE ratio of 65.90 and a beta of 1.94. The firm’s fifty day moving average is C$14.74 and its 200-day moving average is 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.