Ivanhoe Mines Rallies Almost 11% on Chinese Easing Speculation

Ivanhone Mines

IVN

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moved up nearly 11% today after China's Wen Jiabo made statements that could indicate that the country's leadership will move to bolster China's economy. After peaking near $30 in early 2011, Ivanhoe has steadily sold off and was trading with an $8 handle late last week. The company is a mining company focused on gold and copper operations in Mongolia and it has many ties to industry giant Rio Tinto

RIO

. Ivanhoe mines should continue to do well if China's economy rebounds or commodity prices (particularly gold and copper) rally higher. However, shares may trade lower still if the notion of a Chinese hard-landing comes back into play, or an event out of Europe triggers further deflationary fears.