Ivanhoe Mines (TSE:IVN) Stock Price Breaks Above 50-Day Moving Average - What's Next?

Key Points

• Ivanhoe Mines shares broke above their 50-day moving average of C$11.61, reaching C$12.14 before closing at C$11.95 on volume of roughly 4.9 million shares.
• Analyst sentiment is positive, with a consensus rating of “Moderate Buy” from five Buy and five Hold ratings. The average price target is C$14.72, while recent targets range as high as C$17.00.
• The company reported quarterly revenue of C$216.83 million and EPS of C$0.04, alongside a 23.46% net margin; Ivanhoe is focused on copper, zinc and critical-minerals projects in the Democratic Republic of Congo and South Africa.

Ivanhoe Mines Ltd. (TSE:IVN - Get Free Report)'s share price passed above its 50 day moving average during trading on Thursday. The stock has a 50 day moving average of C$11.61 and traded as high as C$12.14. Ivanhoe Mines shares last traded at C$11.95, with a volume of 4,924,117 shares changing hands.

Analyst Upgrades and Downgrades

IVN has been the subject of a number of recent research reports. Stifel Nicolaus increased their price objective on shares of Ivanhoe Mines from C$15.00 to C$17.00 and gave the company a "buy" rating in a research note on Wednesday, September 9th. Scotiabank upped their target price 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. Canaccord Genuity Group increased their price target on shares of Ivanhoe Mines from C$13.00 to C$15.00 and gave the stock a "buy" rating in a research report on Wednesday, September 9th. Morgan Stanley upgraded shares of Ivanhoe Mines from an "equal weight" rating to an "overweight" rating and raised their price target for the stock from C$12.00 to C$13.20 in a research note on Wednesday, July 8th. Finally, Scotia lifted their price objective on Ivanhoe Mines from C$13.00 to C$13.50 and gave the company a "sector perform" rating in a report on Wednesday, September 9th. Five analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of C$14.72.

Ivanhoe Mines Price Performance

The company's 50 day moving average price is C$11.61 and its 200 day moving average price is C$11.56. The company has a debt-to-equity ratio of 21.70, a quick ratio of 20.86 and a current ratio of 2.16. The company has a market cap of C$17.05 billion, a price-to-earnings ratio of 132.78 and a beta of 1.58.

Ivanhoe Mines (TSE:IVN - Get Free Report) last announced its quarterly earnings results on Wednesday, July 29th. The company reported C$0.04 earnings per share (EPS) for the quarter. The firm had revenue of C$216.83 million during the quarter. Ivanhoe Mines had a net margin of 23.46% and a return on equity of 2.32%. On average, equities research analysts predict that Ivanhoe Mines Ltd. will post 1.0136483 earnings per share for the current fiscal year.

Ivanhoe Mines Company Profile

Ivanhoe Mines is a Canadian mining company focused on advancing its three principal operations in Southern Africa; the Kamoa-Kakula Copper Complex in the DRC, the ultra-high-grade Kipushi zinc-copper-germanium-silver mine, also in the DRC; and the tier-one Platreef platinum-palladium-nickel-rhodium-gold-copper mine in South Africa. Ivanhoe Mines is exploring for copper in its highly prospective, 54-100% owned exploration licences in the Western Forelands, covering an area over six times larger than the adjacent Kamoa-Kakula Copper Complex, including the high-grade discoveries in the Makoko District.

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