Ivanhoe Mines (TSE:IVN) Shares Pass Above 50-Day Moving Average - Time to Sell?

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.

Analysts Set New Price Targets

Several research firms have weighed in on IVN. TD Securities dropped their price target on Ivanhoe Mines from C$16.00 to C$13.00 and set a "buy" rating for the company in a research report on Friday, June 13th. Canaccord Genuity Group dropped their price target on Ivanhoe Mines from C$24.00 to C$12.00 in a research report on Friday, June 13th. Citigroup dropped their price target on Ivanhoe Mines from C$20.00 to C$14.00 in a research report on Monday, June 16th. Raymond James Financial lowered their price objective on Ivanhoe Mines from C$21.00 to C$20.00 in a research report on Thursday. Finally, Royal Bank Of Canada lowered their price objective on Ivanhoe Mines from C$24.00 to C$15.00 and set an "outperform" rating for the company in a research report on Tuesday, June 17th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, Ivanhoe Mines presently has an average rating of "Buy" and an average price target of C$15.50.

Ivanhoe Mines Stock Performance

The stock has a 50-day simple moving average of C$10.91 and a 200-day simple moving average of C$12.40. The company has a debt-to-equity ratio of 2.48, a current ratio of 1.36 and a quick ratio of 20.86. The stock has a market cap of C$11.14 billion, a PE ratio of 71.04 and a beta of 1.94.

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.