NEW YORK ( TheStreet) -- Shares of Ivanhoe Mines (NYSE: IVN) were gapping up Thursday morning with an open price 12.6% higher than Wednesday's closing price. The stock closed at $14.97 Wednesday and opened today's trading at $16.85. The average volume for Ivanhoe Mines has been 2.7 million shares per day over the past 30 days. Ivanhoe Mines has a market cap of $9.8 billion and is part of the basic materials sector and metals & mining industry. Shares are down 39.5% year to date as of the close of trading on Wednesday. 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. Get more investment ideas from our investment research center. Interested in other stocks that are gapping up? Get free SMS text alerts sent to you when the action happens by texting UP to 95370 or select from multiple alert options.