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

Ivanhoe Mines Ltd. (OTCMKTS:IVPAF) was the recipient of a large decrease in short interest during the month of June. As of June 15th, there was short interest totalling 73,079,500 shares, a decrease of 5.8% from the May 31st total of 77,597,800 shares. Based on an average trading volume of 463,000 shares, the days-to-cover ratio is currently 157.8 days.

Analyst Ratings Changes

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

Ivanhoe Mines Stock Performance

IVPAF opened at $13.72 on Thursday. Ivanhoe Mines has a 1-year low of $7.13 and a 1-year high of $15.60. The stock’s fifty day simple moving average is $13.82 and its 200 day simple moving average is $12.02.

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.