NEW YORK ( TheStreet) -- Shares of Ivanhoe Mines (NYSE: IVN) have taken a tremendous swing upward. The stock is trading at $17.75 as of 3:05 p.m. ET, 22% above Monday's closing price of $14.55. Volume is at 6.3 million, 3.1 times the daily average of two million.

Ivanhoe Mines has a market cap of $11.4 billion and is part of the basic materials sector and metals & mining industry. Shares are down 30.1% year to date as of the close of trading on Monday.

Ivanhoe Mines Ltd. operates as an exploration and development company. The company's principal mineral resource property is Oyu Tolgoi copper-gold-silver project located in southern Mongolia.

TheStreet Ratings rates Ivanhoe Mines as a hold. The company's strengths can be seen in multiple areas, such as its robust revenue growth, largely solid financial position with reasonable debt levels by most measures and increase in net income. However, as a counter to these strengths, we also find weaknesses including poor profit margins, weak operating cash flow and a generally disappointing performance in the stock itself. You can view the full Ivanhoe Mines Ratings Report.

See our top % gaining stocks list for other stocks that are soaring today, or get investment ideas from our investment research center.

Interested in other stocks that are soaring? Get free SMS text alerts sent to you when the action happens by texting SOAR to 95370 or select from multiple alert options.