Ivanhoe Mines (IVN) Trading Up 9%
Ivanhoe Mines Ltd (TSE:IVN)’s share price was up 9% during mid-day trading on Monday . The stock traded as high as C$3.16 and last traded at C$3.15. Approximately 1,350,823 shares changed hands during mid-day trading, a decline of 26% from the average daily volume of 1,813,742 shares. The stock had previously closed at C$2.89.
Several equities analysts recently issued reports on IVN shares. Canaccord Genuity upped their price objective on Ivanhoe Mines from C$6.50 to C$7.75 in a research report on Wednesday, November 29th. CIBC upped their price objective on Ivanhoe Mines from C$5.00 to C$5.50 in a research report on Monday, November 13th. BMO Capital Markets set a C$8.00 price objective on Ivanhoe Mines and gave the company an “outperform” rating in a research report on Tuesday. Raymond James Financial upped their price objective on Ivanhoe Mines from C$6.00 to C$6.50 and gave the company an “outperform” rating in a research report on Wednesday, November 29th. Finally, TD Securities reaffirmed a “speculative buy” rating and issued a C$7.50 price objective on shares of Ivanhoe Mines in a research report on Monday, November 13th. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of C$6.32.
The firm has a market cap of $2,500.00, a PE ratio of -52.67 and a beta of 0.75.
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About Ivanhoe Mines
Ivanhoe Mines Ltd. is a mineral exploration and development company. The Company focuses on exploration within the Central African Copperbelt and the Bushveld Complex. It has four segments: the Platreef property, the Kamoa property and joint venture, the Kipushi property and treasury. The segments are engaged in the exploration and development of mineral properties in South Africa, the Democratic Republic of Congo (DRC) and the restoration of a mine in the DRC, respectively.
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