Ivanhoe Mines (TSE:IVN) Share Price Passes Below 200-Day Moving Average - Should You Sell?

Key Points

• Ivanhoe Mines fell below its 200-day moving average of C$12.24, reaching C$11.82 before last trading at C$12.37 on elevated volume of about 4.58 million shares.
• Analyst sentiment remains positive: Canaccord Genuity and Morgan Stanley upgraded the stock, while the consensus rating is “Moderate Buy” with an average price target of C$14.41.
• The company reported quarterly EPS of C$0.04 and revenue of C$216.83 million, with a 23.46% net margin; analysts expect full-year EPS of approximately C$1.01.

Ivanhoe Mines Ltd. (TSE:IVN - Get Free Report) passed below its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of C$12.24 and traded as low as C$11.82. Ivanhoe Mines shares last traded at C$12.37, with a volume of 4,582,238 shares changing hands.

Analyst Ratings Changes

Several analysts recently commented on the company. Canaccord Genuity Group raised Ivanhoe Mines from a "hold" rating to a "buy" rating and boosted their price target for the company from C$12.00 to C$13.00 in a research note on Tuesday, July 21st. Morgan Stanley upgraded shares of Ivanhoe Mines from an "equal weight" rating to an "overweight" rating and boosted their target price for the company from C$12.00 to C$13.20 in a research note on Wednesday, July 8th. Finally, Scotiabank upped their target price on shares of Ivanhoe Mines from C$13.00 to C$13.50 and gave the stock a "sector perform" rating in a report on Monday, June 15th. Five research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of C$14.41.

Ivanhoe Mines Stock Performance

The stock has a market cap of C$17.64 billion, a P/E ratio of 137.44 and a beta of 1.54. The stock has a fifty day simple moving average of C$10.99 and a 200-day simple moving average of C$12.24. The company has a quick ratio of 20.86, a current ratio of 2.16 and a debt-to-equity ratio of 21.70.

Ivanhoe Mines (TSE:IVN - Get Free Report) last released its quarterly earnings data on Wednesday, July 29th. The company reported C$0.04 EPS for the quarter. Ivanhoe Mines had a net margin of 23.46% and a return on equity of 2.32%. The business had revenue of C$216.83 million during the quarter. Equities analysts expect that Ivanhoe Mines Ltd. will post 1.0136483 earnings per share for the current fiscal year.

Ivanhoe Mines Company Profile

Ivanhoe Mines is a Canadian mining company focused on advancing its three principal operations in Southern Africa; the Kamoa-Kakula Copper Complex in the DRC, the ultra-high-grade Kipushi zinc-copper-germanium-silver mine, also in the DRC; and the tier-one Platreef platinum-palladium-nickel-rhodium-gold-copper mine in South Africa. Ivanhoe Mines is exploring for copper in its highly prospective, 54-100% owned exploration licences in the Western Forelands, covering an area over six times larger than the adjacent Kamoa-Kakula Copper Complex, including the high-grade discoveries in the Makoko District.

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