Ivanhoe Mines (TSE:IVN) Stock Crosses Above 50-Day Moving Average of $9.52

Ivanhoe Mines Ltd. (TSE:IVNGet Rating)’s share price passed above its 50 day moving average during trading on Wednesday . The stock has a 50 day moving average of C$9.52 and traded as high as C$11.12. Ivanhoe Mines shares last traded at C$11.05, with a volume of 703,732 shares trading hands.

Analysts Set New Price Targets

Separately, Royal Bank of Canada lowered their price objective on Ivanhoe Mines from C$14.00 to C$12.00 and set an “outperform” rating for the company in a report on Tuesday, August 16th.

Ivanhoe Mines Price Performance

The company has a market capitalization of C$13.41 billion and a P/E ratio of 25.70. The company has a fifty day moving average price of C$9.52 and a 200 day moving average price of C$8.91. The company has a debt-to-equity ratio of 18.52, a current ratio of 21.86 and a quick ratio of 20.86.

Ivanhoe Mines Company Profile

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Ivanhoe Mines Ltd. engages in the exploration, development, and recovery of minerals and precious metals located primarily in Africa. It explores for platinum, palladium, nickel, copper, gold, rhodium, zinc, silver, germanium, and lead deposits. The company's projects include the Platreef project located in the Northern Limb of South Africa's Bushveld Complex; the Kipushi project located in Haut-Katanga Province, Democratic Republic of Congo; and the Kamoa-Kakula project located within the Central African Copperbelt.

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