Ivanhoe Mines rises 38%, tops the Ubika Mining 20
The Ubika Mining 20 Index (UM20) fell 2.8% over the past month, slipping more than the TSX Venture composite, which was down by 0.7%. The TSX Mining Index, meanwhile, rose 3.1% over the same period. However, this month’s performance is just a blip on the radar, as the UM20 is blowing past both benchmarks on a 52-week basis, gaining 74%, relative to the 52% and 38% gains for the TSX Venture Index and TSX Mining Index, respectively. Ivanhoe Mines (TSX: IVN) was the top-performing component company during the past month, climbing 38% after the Company’s stock was added to the S&P/TSX Composite Index, effective after the close of trading on September 16, 2016.
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