Ivanhoe Mines (TSE:IVN) Stock Price Crosses Below 200-Day Moving Average - Here's Why

Key Points

• Ivanhoe Mines shares fell below their 200-day moving average of C$12.92, trading as low as C$10.44 before closing at C$10.68 on heavy volume of about 6.2 million shares.
• Analyst sentiment remains generally positive but mixed: five analysts rate the stock a Buy and four rate it a Hold, producing a consensus “Moderate Buy” rating and a C$14.41 price target.
• Recent insider activity was negative, with directors selling 10,000 shares worth approximately C$114,554 over the past 90 days; insiders still own nearly 45% of the company.

Ivanhoe Mines Ltd. (TSE:IVN - Get Free Report) crossed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$12.92 and traded as low as C$10.44. Ivanhoe Mines shares last traded at C$10.68, with a volume of 6,194,053 shares.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on IVN shares. Royal Bank Of Canada lowered shares of Ivanhoe Mines from a "moderate buy" rating to a "hold" rating in a research report on Monday, April 6th. TD Securities dropped their price objective on shares of Ivanhoe Mines from C$19.00 to C$13.00 and set a "buy" rating for the company in a research report on Wednesday, April 1st. Morgan Stanley raised Ivanhoe Mines from an "equal weight" rating to an "overweight" rating and upped their price objective for the stock from C$12.00 to C$13.20 in a report on Wednesday, July 8th. Canaccord Genuity Group upgraded Ivanhoe Mines from a "hold" rating to a "buy" rating and increased their price objective for the company from C$12.00 to C$13.00 in a research report on Tuesday, July 21st. Finally, Raymond James Financial lowered Ivanhoe Mines from a "moderate buy" rating to a "hold" rating and lowered their price objective for the stock from C$23.00 to C$17.00 in a research report on Wednesday, April 1st. Five analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of C$14.41.

Ivanhoe Mines Stock Down 0.7%

The business has a fifty day moving average of C$11.19 and a 200 day moving average of C$12.92. The company has a quick ratio of 20.86, a current ratio of 2.33 and a debt-to-equity ratio of 21.02. The firm has a market cap of C$15.23 billion, a P/E ratio of 118.67 and a beta of 1.58.

Insiders Place Their Bets

In related news, Director Setha Patricia Makhesha sold 5,200 shares of the business's stock in a transaction that occurred 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 completion of the transaction, the director owned 77,922 shares in the company, valued at approximately C$892,206.90. The trade was a 6.26% decrease in their ownership of the stock. Over the last 90 days, insiders have sold 10,000 shares of company stock worth $114,554. 44.96% of the stock is owned by company insiders.

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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