The stock of Ivanhoe Mines Ltd (TSE:IVN) gapped up by $0.03 today and has $3.71 target or 48.00% above today’s $2.51 share price. The 8 months technical chart setup indicates low risk for the $2.00 billion company. The gap was reported on Nov, 10 by Barchart.com. If the $3.71 price target is reached, the company will be worth $960.00M 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 1.90M shares traded hands. Ivanhoe Mines Ltd (TSE:IVN) has risen 180.72% since April 6, 2016 and is uptrending. It has outperformed by 175.07% the S&P500.
Ivanhoe Mines Ltd (TSE:IVN) Ratings Coverage
Out of 3 analysts covering Ivanhoe Mines Ltd. (TSE:IVN), 3 rate it a “Buy”, 0 “Sell”, while 0 “Hold”. This means 100% are positive. $3.20 is the highest target while $1.50 is the lowest. The $2.03 average target is -19.12% below today’s ($2.51) stock price. Ivanhoe Mines Ltd. has been the topic of 10 analyst reports since October 14, 2015 according to StockzIntelligence Inc. The stock has “Outperform” rating given by RBC Capital Markets on Thursday, February 25. BMO Capital Markets maintained the stock with “Outperform” rating in Tuesday, November 8 report. RBC Capital Markets maintained the shares of IVN in a report on Friday, September 23 with “Outperform” rating. The rating was maintained by RBC Capital Markets with “Outperform” on Wednesday, December 9. The rating was maintained by RBC Capital Markets on Thursday, November 19 with “Outperform”. The firm earned “Outperform” rating on Tuesday, January 26 by RBC Capital Markets. The stock of Ivanhoe Mines Ltd (TSE:IVN) has “Market Perform (Speculative)” rating given on Thursday, January 14 by BMO Capital Markets.
More important recent Ivanhoe Mines Ltd (TSE:IVN) news were published by: Seekingalpha.com which released: “What Is Ivanhoe’s Kamoa-Kakula Really Worth?” on November 08, 2016, also Wsj.com published article titled: “Ivanhoe Mines to Seek Strategic Adviser After Unsolicited Interest”, Seekingalpha.com published: “Ivanhoe Mines Became A Billion Dollar Company” on September 08, 2016. More interesting news about Ivanhoe Mines Ltd (TSE:IVN) was released by: Wsj.com and their article: “Zijin Mining Group to Acquire 9.9% Stake in Ivanhoe Mines” with publication date: March 23, 2015.
Ivanhoe Mines Ltd. is a mineral exploration and development company. The company has a market cap of $2.00 billion. The Firm focuses on exploration within the Central African Copperbelt and the Bushveld Complex. It has a 2.07 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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