Ivanhoe Mines (TSE:IVN) Stock Crosses Above Fifty Day Moving Average – What’s Next?

Ivanhoe Mines Ltd. (TSE:IVN)’s share price passed above its 50-day moving average during trading on Tuesday . The stock has a 50-day moving average of C$15.98 and traded as high as C$17.96. Ivanhoe Mines shares last traded at C$17.63, with a volume of 2,347,173 shares traded.

Analysts Set New Price Targets

Several equities research analysts have weighed in on IVN shares. Stifel Nicolaus raised their target price on shares of Ivanhoe Mines from C$16.00 to C$18.00 in a research note on Tuesday, October 21st. Scotiabank boosted their target price on Ivanhoe Mines from C$18.50 to C$20.00 and gave the stock an “outperform” rating in a research note on Thursday, January 8th. Finally, Jefferies Financial Group cut Ivanhoe Mines from a “buy” rating to a “hold” rating and decreased their price target for the company from C$18.00 to C$16.00 in a research note on Monday, December 8th. Six research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, Ivanhoe Mines has an average rating of “Moderate Buy” and an average target price of C$17.55.

Ivanhoe Mines Stock Down 2.2%

The company has a quick ratio of 20.86, a current ratio of 1.36 and a debt-to-equity ratio of 2.48. The company has a market capitalization of C$25.03 billion, a price-to-earnings ratio of 80.14 and a beta of 1.91. The business’s 50-day moving average is C$15.98 and its 200-day moving average is C$14.10.

Ivanhoe Mines (TSE:IVN) last released its quarterly earnings data on Wednesday, October 29th. The company reported C$0.02 earnings per share for the quarter. The company had revenue of C$180.18 million for the quarter. As a group, equities analysts predict that Ivanhoe Mines Ltd. will post 1.0136483 earnings per share for the current year.

Insider Activity at Ivanhoe Mines

In other Ivanhoe Mines news, insider Mark Sean Farren sold 60,000 shares of the firm’s stock in a transaction that occurred on 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 sale, the insider directly owned 174,923 shares of the company’s stock, valued at approximately C$2,343,968.20. This trade represents a 25.54% decrease in their ownership of the stock. Also, insider Citic Metal Africa Investments Limited sold 350,000 shares of the business’s stock in a transaction that occurred on Tuesday, December 30th. The shares were sold at an average price of C$15.71, for a total value of C$5,498,500.00. Insiders sold a total of 566,849 shares of company stock worth $8,458,448 in the last 90 days. Corporate insiders own 44.96% of the company’s stock.

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.