Ivanhoe Mines (TSE:IVN) Shares Cross Below Fifty Day Moving Average - Time to Sell?

Ivanhoe Mines Ltd. (TSE:IVN - Get Free Report) shares passed below its 50 day moving average during trading on Wednesday . The stock has a 50 day moving average of C$11.90 and traded as low as C$10.31. Ivanhoe Mines shares last traded at C$10.65, with a volume of 5,416,812 shares traded.

Analyst Upgrades and Downgrades

A number of research firms recently commented on IVN. Royal Bank Of Canada cut their price objective on Ivanhoe Mines from C$24.00 to C$15.00 and set an "outperform" rating on the stock in a research note on Tuesday, June 17th. Canaccord Genuity Group dropped their price target on shares of Ivanhoe Mines from C$24.00 to C$12.00 in a research report on Friday, June 13th. TD Securities reduced 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 note on Friday, June 13th. BMO Capital Markets lowered their target price on shares of Ivanhoe Mines from C$24.00 to C$21.00 in a research note on Friday, June 13th. Finally, Jefferies Financial Group cut their price target on shares of Ivanhoe Mines from C$19.00 to C$17.00 in a research report on Thursday, June 12th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of C$16.80.

Ivanhoe Mines Trading Up 4.1%

The company has a quick ratio of 20.86, a current ratio of 1.36 and a debt-to-equity ratio of 2.48. The company has a market capitalization of C$10.10 billion, a P/E ratio of 64.39 and a beta of 1.94. The firm's 50-day moving average price is C$11.90 and its 200 day moving average price is C$13.95.

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.

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