Ivanhoe Mines (TSE:IVN) Stock Passes Below 200-Day Moving Average - What's Next?

Key Points

• Ivanhoe Mines Ltd. shares fell below their 200-day moving average of C$13.08, dropping to a low of C$10.71 during trading.
• Analysts have mixed outlooks on the stock, with Canaccord Genuity lowering its price target significantly from C$24.00 to C$12.00, while others still maintain a generally positive stance with an average rating of "Buy."
• The company's current market capitalization is approximately C$10.25 billion, with a substantial debt-to-equity ratio of 2.48 indicating potential financial risk.

Ivanhoe Mines Ltd. (TSE:IVN - Get Free Report)'s share price crossed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$13.08 and traded as low as C$10.71. Ivanhoe Mines shares last traded at C$10.81, with a volume of 3,381,068 shares changing hands.

Analysts Set New Price Targets

Several analysts recently weighed in on IVN shares. Jefferies Financial Group dropped their target price on shares of Ivanhoe Mines from C$19.00 to C$17.00 in a report on Thursday, June 12th. Citigroup dropped their price target on shares of Ivanhoe Mines from C$20.00 to C$14.00 in a research note on Monday, June 16th. Raymond James Financial upgraded shares of Ivanhoe Mines to a "moderate buy" rating in a research note on Monday, June 30th. Canaccord Genuity Group dropped their price target on shares of Ivanhoe Mines from C$24.00 to C$12.00 in a research note on Friday, June 13th. Finally, TD Securities dropped their price target on shares of Ivanhoe Mines from C$16.00 to C$13.00 and set a "buy" rating for the company in a research note on Friday, June 13th. One research analyst has rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Buy" and an average price target of C$15.94.

Ivanhoe Mines Trading Down 1.5%

The firm has a market capitalization of C$10.10 billion, a PE ratio of 64.39 and a beta of 1.94. The company's 50-day moving average price is C$10.78 and its 200-day moving average price is C$12.95. The company has a debt-to-equity ratio of 2.48, a quick ratio of 20.86 and a current ratio of 1.36.

About Ivanhoe Mines

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.