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In addition to Credit Suisse's upgrade, Ivanhoe Mines (IVN +22.8%) is gaining on news of Rio...

In addition to Credit Suisse's upgrade, Ivanhoe Mines (IVN +22.8%) is gaining on news of Rio Tinto (RIO) upping its stake in the company by another 0.5%, to 49%. The move brings Rio's stake in Ivanhoe to the maximum allowed by a December agreement between the companies, though speculation exists Rio may buy Ivanhoe outright.
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  • Bob Johnson
    , contributor
    Comments (3038) | Send Message
     
    This is a volatile issue, trading on news of possible future actions of the Mongolia's government.

     

    Date Open High Low Close Volume Adj Close*
    Sep 28, 2011 17.35 17.37 15.47 15.56 3,926,400 15.56
    Sep 27, 2011 15.90 18.61 15.56 17.08 7,963,500 17.08

     

    It indeed did go up to a high of 18.61 at about 1:00PM Tuesday from its previous close of 15.56 but closed on Tuesday at 17.08. Wednesday it closed at 15.58, giving up all the gains. Thursday morning at 13:00 AM it is at about 15.20.

     

    The other major factor which effects the price of all copper miners is the LME price of copper and commodity prices in general.
    29 Sep 2011, 10:33 AM Reply Like
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