Ivanhoe Mines (OTCMKTS:IVPAF) Stock Price Passes Above 50-Day Moving Average - Should You Sell?

Key Points

• Ivanhoe Mines Ltd. (OTCMKTS:IVPAF) shares surpassed their 50-day moving average of $8.40, closing at $9.60 with a trading volume of 652,187 shares.
• Multiple research firms have upgraded Ivanhoe Mines to a "strong-buy" or "moderate buy" rating, highlighting a bullish outlook for the stock.
• The company reported earnings of $0.03 per share, which missed the consensus estimate, with quarterly revenue at $96.76 million, falling short of expectations.

Ivanhoe Mines Ltd. (OTCMKTS:IVPAF - Get Free Report) shares crossed above its 50 day moving average during trading on Tuesday . The stock has a 50 day moving average of $8.40 and traded as high as $9.79. Ivanhoe Mines shares last traded at $9.60, with a volume of 652,187 shares.

Analysts Set New Price Targets

IVPAF has been the subject of a number of analyst reports. Royal Bank Of Canada raised shares of Ivanhoe Mines to a "moderate buy" rating in a research report on Tuesday, June 17th. TD Securities raised Ivanhoe Mines to a "strong-buy" rating in a report on Tuesday, June 3rd. Citigroup raised Ivanhoe Mines to a "strong-buy" rating in a report on Monday, June 16th. Canaccord Genuity Group raised shares of Ivanhoe Mines to a "strong-buy" rating in a research report on Friday, June 13th. Finally, Scotiabank cut shares of Ivanhoe Mines from a "strong-buy" rating to a "hold" rating in a research report on Thursday, June 12th. Five equities research analysts have rated the stock with a Strong Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, the company has an average rating of "Strong Buy".

Ivanhoe Mines Price Performance

The company has a market capitalization of $13.05 billion and a P/E ratio of 19.49. The company has a fifty day moving average price of $8.51 and a two-hundred day moving average price of $8.69.

Ivanhoe Mines (OTCMKTS:IVPAF - Get Free Report) last announced its earnings results on Wednesday, July 30th. The company reported $0.03 EPS for the quarter, missing the consensus estimate of $0.04 by ($0.01). The company had revenue of $96.76 million during the quarter, compared to analyst estimates of $101.84 million.

Ivanhoe Mines Company Profile

Ivanhoe Mines Ltd. engages in the mining, development, and exploration of minerals and precious metals 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.