Shares of Ivanhoe Mines Ltd. (TSE:IVN - Get Free Report) rose 8.6% 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$11.15. Approximately 5,567,825 shares traded hands during mid-day trading, an increase of 132% from the average daily volume of 2,400,169 shares. The stock had previously closed at C$10.27.
Other equities analysts have also recently issued reports about the stock. Raymond James lowered 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 report on Thursday, January 9th. TD Securities dropped their price target 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 reduced their price objective on 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. UBS Group dropped their target price on Ivanhoe Mines from C$21.00 to C$19.00 in a research report on Friday, February 21st. Finally, Citigroup reduced their price target on 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 equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company currently has an average rating of "Buy" and an average price target of C$23.20.
View Our Latest Report on IVN
Ivanhoe Mines Stock Up 7.9 %
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 firm has a market capitalization of C$11.17 billion, a P/E ratio of 71.22 and a beta of 1.94. The stock's 50-day simple moving average is C$14.12 and its 200-day simple moving average is C$16.82.
About Ivanhoe Mines
(
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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.
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