Ivanhoe Mines (TSE:IVN) Stock Price Crosses Above 50 Day Moving Average – Time to Sell?

Ivanhoe Mines Ltd. (TSE:IVN)’s stock price passed above its 50 day moving average during trading on Thursday . The stock has a 50 day moving average of C$13.89 and traded as high as C$15.90. Ivanhoe Mines shares last traded at C$15.65, with a volume of 1,128,302 shares changing hands.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the stock. TD Securities raised their target price on shares of Ivanhoe Mines from C$13.00 to C$16.00 and gave the stock a “buy” rating in a report on Monday, September 29th. Canaccord Genuity Group lifted their price target on shares of Ivanhoe Mines from C$14.00 to C$16.50 and gave the stock a “buy” rating in a report on Wednesday, October 1st. Scotiabank raised shares of Ivanhoe Mines from a “hold” rating to an “outperform” rating and increased their target price for the stock from C$12.50 to C$17.00 in a research note on Monday, September 29th. Jefferies Financial Group downgraded Ivanhoe Mines from a “buy” rating to a “hold” rating and cut their price target for the company from C$18.00 to C$16.00 in a research note on Monday, December 8th. Finally, Citigroup increased their price objective on shares of Ivanhoe Mines from C$14.00 to C$18.00 and gave the company a “buy” rating in a research note on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Buy” and an average price target of C$17.25.

Ivanhoe Mines Trading Down 1.8%

The company has a debt-to-equity ratio of 2.48, a quick ratio of 20.86 and a current ratio of 1.36. The stock has a market cap of C$22.22 billion, a P/E ratio of 71.14 and a beta of 1.96. The stock has a 50-day moving average price of C$13.89 and a 200-day moving average price of C$12.66.

Ivanhoe Mines (TSE:IVN) last released its earnings results on Wednesday, October 29th. The company reported C$0.02 EPS for the quarter. The firm had revenue of C$180.18 million during the quarter. On average, equities research analysts expect that Ivanhoe Mines Ltd. will post 1.0136483 EPS for the current year.

Insider Activity

In other news, insider Mark Sean Farren sold 60,000 shares of Ivanhoe Mines stock in a transaction dated Tuesday, December 16th. The stock was sold at an average price of C$13.40, for a total value of C$804,000.00. Following the transaction, the insider owned 174,923 shares in the company, valued at approximately C$2,343,968.20. The trade was a 25.54% decrease in their ownership of the stock. Insiders sold 200,290 shares of company stock worth $2,687,823 over the last quarter. 44.96% of the stock is currently owned by company insiders.

Ivanhoe Mines Company Profile

Ivanhoe Mines Ltd is a mineral exploration and development company. The company, together with its subsidiaries, explores, develops, and recovers minerals and precious gems from its property interests located in Africa. The group explores platinum, nickel, copper, gold, silver, cobalt, iron, vanadium, and chrome. It operates in four segments: Platreef property, Kamoa Holding joint venture, Kipushi properties, and the Company’s treasury offices.