Ivanhoe Mines (TSE:IVN) Share Price Passes Below 50-Day Moving Average - Should You Sell?

Key Points

• Ivanhoe Mines shares fell below their 50-day moving average, trading as low as C$10.46 and last changing hands at C$10.49, signaling near-term weakness in the stock.
• Analyst sentiment is mixed: the stock has a consensus Hold rating from Wall Street, with four Buy ratings and five Hold ratings, and an average price target of C$14.24.
• The company’s stock has seen recent insider selling, including a director sale in May, while insiders still own a large 44.96% of the company.

Shares of Ivanhoe Mines Ltd. (TSE:IVN - Get Free Report) passed below its 50-day moving average during trading on Wednesday . The stock has a 50-day moving average of C$11.47 and traded as low as C$10.46. Ivanhoe Mines shares last traded at C$10.49, with a volume of 2,494,412 shares.

Wall Street Analysts Forecast Growth

IVN has been the subject of several analyst reports. Royal Bank Of Canada lowered Ivanhoe Mines from a "moderate buy" rating to a "hold" rating in a research note on Monday, April 6th. Canaccord Genuity Group decreased their price target on Ivanhoe Mines from C$15.00 to C$11.50 and set a "hold" rating on the stock in a research note on Monday, April 6th. Morgan Stanley upgraded Ivanhoe Mines from an "equal weight" rating to an "overweight" rating and lifted their price target for the company from C$12.00 to C$13.20 in a report on Wednesday, July 8th. Scotiabank upped their price objective on shares of Ivanhoe Mines from C$13.00 to C$13.50 and gave the company a "sector perform" rating in a research note on Monday, June 15th. Finally, Citigroup cut their price objective on shares of Ivanhoe Mines from C$18.00 to C$13.00 and set a "buy" rating on the stock in a report on Thursday, April 9th. Four analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of C$14.24.

Ivanhoe Mines Price Performance

The company has a market cap of C$14.96 billion, a price-to-earnings ratio of 116.56 and a beta of 1.58. The company's 50-day simple moving average is C$11.47 and its 200-day simple moving average is C$13.27. The company has a debt-to-equity ratio of 21.02, a current ratio of 2.33 and a quick ratio of 20.86.

Insider Transactions at Ivanhoe Mines

In related news, Director Setha Patricia Makhesha sold 5,200 shares of Ivanhoe Mines stock in a transaction on Thursday, May 21st. The shares were sold at an average price of C$11.45, for a total transaction of C$59,540.00. Following the sale, the director owned 77,922 shares of the company's stock, valued at C$892,206.90. The trade was a 6.26% decrease in their position. Over the last quarter, insiders have sold 10,000 shares of company stock worth $114,554. Insiders own 44.96% of the company's stock.

About Ivanhoe Mines

Ivanhoe Mines Ltd is a mineral exploration and development company. The company, together with its subsidiaries, explores, develops, and recovers minerals and precious gems from its property interests located in Africa. The group explores platinum, nickel, copper, gold, silver, cobalt, iron, vanadium, and chrome. It operates in four segments: Platreef property, Kamoa Holding joint venture, Kipushi properties, and the Company's treasury offices.

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