Ivanhoe Mines (TSE:IVN) Share Price Passes Above 50-Day Moving Average - What's Next?

Key Points

• Ivanhoe Mines Ltd. shares recently traded above its fifty day moving average of C$10.83, reaching a high of C$11.35 during trading.
• Several analysts have adjusted their price targets for Ivanhoe Mines, with consensus estimates now averaging C$15.94 and ratings ranging from Strong Buy to Hold.
• The company has a market capitalization of C$10.37 billion and is involved in the exploration of various minerals and precious metals primarily in Africa.

Ivanhoe Mines Ltd. (TSE:IVN - Get Free Report)'s share price crossed above its 50 day moving average during trading on Tuesday . The stock has a 50 day moving average of C$10.83 and traded as high as C$11.35. Ivanhoe Mines shares last traded at C$10.94, with a volume of 2,410,473 shares changing hands.

Wall Street Analyst Weigh In

Several brokerages have weighed in on IVN. TD Securities cut their target price on Ivanhoe Mines from C$16.00 to C$13.00 and set a "buy" rating on the stock in a research note on Friday, June 13th. Citigroup cut their target price on Ivanhoe Mines from C$20.00 to C$14.00 in a research note on Monday, June 16th. Royal Bank Of Canada dropped their price objective on Ivanhoe Mines from C$24.00 to C$15.00 and set an "outperform" rating on the stock in a research note on Tuesday, June 17th. Scotiabank boosted their price objective on Ivanhoe Mines from C$12.00 to C$12.50 and gave the stock a "sector perform" rating in a research note on Wednesday, July 9th. Finally, Jefferies Financial Group dropped their price objective on Ivanhoe Mines from C$19.00 to C$17.00 in a research note on Thursday, June 12th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has assigned a Hold rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Buy" and a consensus price target of C$15.50.

Ivanhoe Mines Stock Up 5.0%

The company has a current ratio of 1.36, a quick ratio of 20.86 and a debt-to-equity ratio of 2.48. The firm has a market capitalization of C$11.10 billion, a price-to-earnings ratio of 70.80 and a beta of 1.94. The stock has a fifty day moving average of C$10.89 and a 200-day moving average of C$12.46.

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.