Ivanhoe Mines (TSE:IVN) Trading 8.6% Higher - What's Next?

Ivanhoe Mines Ltd. (TSE:IVN - Get Free Report)'s share price traded up 8.6% on Tuesday . The stock traded as high as C$11.39 and last traded at C$11.15. 5,567,825 shares changed hands during mid-day trading, an increase of 132% from the average session volume of 2,400,169 shares. The stock had previously closed at C$10.27.

Wall Street Analysts Forecast Growth

IVN has been the subject of several recent analyst reports. TD Securities cut their target price 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. Jefferies Financial Group raised their price objective on Ivanhoe Mines from C$23.00 to C$24.00 in a research report on Friday, April 4th. UBS Group reduced their price objective on shares of Ivanhoe Mines from C$21.00 to C$19.00 in a report on Friday, February 21st. Raymond James lowered their target price 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. Finally, Citigroup reduced their price target on shares of Ivanhoe Mines from C$24.00 to C$20.00 and set a "buy" rating on the stock in a research note on Tuesday, February 25th. Eight research analysts have rated the stock with a buy rating, According to MarketBeat.com, Ivanhoe Mines has a consensus rating of "Buy" and an average target price of C$23.20.

Ivanhoe Mines Stock Up 7.9 %

The business's fifty day moving average is C$14.12 and its two-hundred day moving average is C$16.82. The stock has a market cap of C$11.17 billion, a price-to-earnings ratio of 71.22 and a beta of 1.94. The company has a quick ratio of 20.86, a current ratio of 1.36 and a debt-to-equity ratio of 2.48.

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.