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Ivanhoe Mines (TSE:IVN) Stock Price Up 8.6% - Time to Buy?

Ivanhoe Mines logo with Basic Materials background

Ivanhoe Mines Ltd. (TSE:IVN - Get Free Report) shares shot 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 traded hands during trading, an increase of 132% from the average session volume of 2,400,169 shares. The stock had previously closed at C$10.27.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on IVN. Scotiabank decreased their price objective on 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. Citigroup decreased their price target on Ivanhoe Mines from C$24.00 to C$20.00 and set a "buy" rating for the company in a report on Tuesday, February 25th. 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 research report on Thursday, January 9th. TD Securities cut their target price on shares of Ivanhoe Mines from C$25.00 to C$24.00 and set a "buy" rating for the company in a report on Thursday, January 9th. Finally, Jefferies Financial Group increased their price target on shares of Ivanhoe Mines from C$23.00 to C$24.00 in a report on Friday, April 4th. Eight research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company presently has an average rating of "Buy" and a consensus price target of C$23.20.

Check Out Our Latest Stock Report on Ivanhoe Mines

Ivanhoe Mines Stock Performance

The stock has a 50-day moving average of C$14.12 and a 200 day moving average of C$16.82. The stock has a market cap of C$11.17 billion, a PE 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.

About Ivanhoe Mines

(Get Free Report)

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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