Could Ivanhoe Mines Ltd Increase Even More? The Stock Just Had a Gap Up

 Could Ivanhoe Mines Ltd Increase Even More? The Stock Just Had a Gap Up

The stock of Ivanhoe Mines Ltd (TSE:IVN) gapped up by $0.02 today and has $3.27 target or 46.00% above today’s $2.24 share price. The 5 months technical chart setup indicates low risk for the $1.81 billion company. The gap was reported on Nov, 1 by If the $3.27 price target is reached, the company will be worth $832.60M more.
Gaps up are useful for using as a support level and to some extent as a tradeable event. If investors already hold the stock and experience a price gap up, then its usually a good idea to hold the stock for a stronger up move. Back-tests of these patterns indicate that two-thirds of the times the stock performance improves after the gap. The area gaps close 89% of the time, the breakaway gaps, 2%, the continuation gaps 4% and the exhaustion gaps 61%. About 2.20 million shares traded hands. Ivanhoe Mines Ltd (TSE:IVN) has risen 151.81% since March 28, 2016 and is uptrending. It has outperformed by 148.79% the S&P500.

Ivanhoe Mines Ltd (TSE:IVN) Ratings Coverage

Out of 2 analysts covering Ivanhoe Mines Ltd. (TSE:IVN), 2 rate it a “Buy”, 0 “Sell”, while 0 “Hold”. This means 100% are positive. Ivanhoe Mines Ltd. has been the topic of 9 analyst reports since October 14, 2015 according to StockzIntelligence Inc. The rating was maintained by RBC Capital Markets with “Outperform” on Thursday, November 19. The company was maintained on Wednesday, December 9 by RBC Capital Markets. The rating was maintained by RBC Capital Markets with “Outperform” on Friday, September 23. The rating was maintained by RBC Capital Markets on Thursday, February 25 with “Outperform”. The company was downgraded on Thursday, January 14 by BMO Capital Markets. As per Tuesday, January 26, the company rating was maintained by RBC Capital Markets.

More notable recent Ivanhoe Mines Ltd (TSE:IVN) news were published by: which released: “Ivanhoe Mines Became A Billion Dollar Company” on September 08, 2016, also with their article: “Ivanhoe Mines to Seek Strategic Adviser After Unsolicited Interest” published on August 29, 2016, published: “Zijin Mining Group to Acquire 9.9% Stake in Ivanhoe Mines” on March 23, 2015. More interesting news about Ivanhoe Mines Ltd (TSE:IVN) were released by: and their article: “Ivanhoe Mines: What About Getting World-Class Assets For Free ?” published on February 03, 2016 as well as‘s news article titled: “Ivanhoe Mines and Zijin Mining Group Set to Complete Zijin’s Investment in the …” with publication date: November 23, 2015.

Ivanhoe Mines Ltd. is a mineral exploration and development company. The company has a market cap of $1.81 billion. The Firm focuses on exploration within the Central African Copperbelt and the Bushveld Complex. It has a 1.85 P/E ratio. It has four divisions: the Platreef property, the Kamoa property and joint venture, the Kipushi property and treasury.

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