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

Shares of Ivanhoe Mines Ltd. (TSE:IVN - Get Free Report) traded up 8.6% during trading 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.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. Citigroup cut 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 dropped 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. TD Securities decreased their price target 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. Scotiabank dropped their price objective on shares of Ivanhoe Mines from C$21.00 to C$20.00 and set an "outperform" rating for the company in a research report on Thursday, January 9th. Finally, UBS Group reduced their price objective on Ivanhoe Mines from C$21.00 to C$19.00 in a report on Friday, February 21st. Eight equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Ivanhoe Mines presently has a consensus rating of "Buy" and a consensus target price of C$23.00.

Get Our Latest Analysis on IVN

Ivanhoe Mines Stock Performance

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 company has a market cap of C$10.75 billion, a price-to-earnings ratio of 68.56 and a beta of 1.94. The stock has a 50 day moving average price of C$14.64 and a two-hundred day moving average price of C$17.08.

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.

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