Ivanhoe Mines Ltd. (OTCMKTS:IVPAF) Sees Large Growth in Short Interest

Ivanhoe Mines Ltd. (OTCMKTS:IVPAF) saw a large increase in short interest in the month of March. As of March 31st, there was short interest totalling 64,266,200 shares, an increase of 6.3% from the March 15th total of 60,472,800 shares. Based on an average daily trading volume, of 151,600 shares, the days-to-cover ratio is currently 423.9 days.

Analyst Upgrades and Downgrades

Separately, Raymond James upped their price objective on Ivanhoe Mines from $18.00 to $19.00 and gave the stock an “outperform” rating in a research report on Wednesday, March 20th.

Ivanhoe Mines Stock Performance

OTCMKTS:IVPAF opened at $13.71 on Wednesday. Ivanhoe Mines has a fifty-two week low of $7.13 and a fifty-two week high of $13.80. The company has a fifty day moving average of $11.39 and a two-hundred day moving average of $9.78.

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.