Market Overview

Ivanhoe Mines Rallies Almost 11% on Chinese Easing Speculation

Related GLD
Covered Call Writing With The "Q"s
'Fear Index' At 3-Year Highs As VIX, Gold Trade Higher
Related JJC
Copper Mining Stocks Fight Commodity Price Declines
3 Reasons To Follow The Big Dog In Natural Resources

Ivanhone Mines (NYSE: IVN) 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 (NYSE: 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.

Posted-In: News Futures Commodities Markets Movers Trading Ideas

 

Related Articles (GLD + IVN)

Around the Web, We're Loving...

Get Benzinga's Newsletters