Ivanhoe Mines Ltd. (OTCMKTS:IVPAF) Short Interest Down 5.8% in June

Ivanhoe Mines Ltd. (OTCMKTS:IVPAF) was the target of a large decline in short interest in the month of June. As of June 15th, there was short interest totalling 73,079,500 shares, a decline 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.

Ivanhoe Mines Trading Down 0.5 %

Shares of IVPAF stock traded down $0.07 during mid-day trading on Tuesday, reaching $12.80. The stock had a trading volume of 17,221 shares, compared to its average volume of 301,775. Ivanhoe Mines has a 12-month low of $7.13 and a 12-month high of $15.60. The business has a 50-day simple moving average of $13.82 and a 200 day simple moving average of $11.98.

Wall Street Analysts Forecast Growth

Separately, Raymond James increased their price target on shares of Ivanhoe Mines from $18.00 to $19.00 and gave the stock an “outperform” rating in a research note on Wednesday, March 20th.

Ivanhoe Mines Company Profile

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.