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

Key Points

• Ivanhoe Mines Ltd. shares crossed above their fifty-day moving average, indicating a potential upward trend with shares trading at C$12.56 after reaching a high of C$12.62.
• Multiple equity analysts have adjusted their price targets for Ivanhoe Mines, with the average price target currently at C$15.50 and a consensus rating of "Buy".
• The company's market capitalization stands at C$17.01 billion, and it has a relatively high price-to-earnings ratio of 43.31.

Ivanhoe Mines Ltd. (TSE:IVN - Get Free Report)'s share price passed above its 50-day moving average during trading on Friday . The stock has a 50-day moving average of C$11.25 and traded as high as C$12.62. Ivanhoe Mines shares last traded at C$12.56, with a volume of 2,058,864 shares traded.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on IVN shares. Jefferies Financial Group cut their price objective on shares of Ivanhoe Mines from C$19.00 to C$17.00 in a research report on Thursday, June 12th. TD Securities cut their price objective on shares of Ivanhoe Mines from C$16.00 to C$13.00 and set a "buy" rating on the stock in a research report on Friday, June 13th. Citigroup reduced their target price on Ivanhoe Mines from C$20.00 to C$14.00 in a research report on Monday, June 16th. Canaccord Genuity Group reduced their target price on Ivanhoe Mines from C$24.00 to C$12.00 in a research report on Friday, June 13th. Finally, BMO Capital Markets reduced their target price on Ivanhoe Mines from C$24.00 to C$21.00 in a research report on Friday, June 13th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has issued a Hold rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Buy" and a consensus price target of C$15.50.

Ivanhoe Mines Stock Down 2.4%

The business has a fifty day moving average price of C$11.29 and a two-hundred day moving average price of C$12.10. 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 firm has a market capitalization of C$16.60 billion, a price-to-earnings ratio of 42.28 and a beta of 1.79.

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.