Ivanhoe Mines (TSE:IVN) Stock Price Crosses Above Fifty Day Moving Average – Should You Sell?

Ivanhoe Mines Ltd. (TSE:IVN)’s stock price passed above its fifty day moving average during trading on Wednesday . The stock has a fifty day moving average of C$16.26 and traded as high as C$16.56. Ivanhoe Mines shares last traded at C$16.20, with a volume of 4,774,496 shares traded.

Analyst Upgrades and Downgrades

IVN has been the topic of a number of research analyst reports. Stifel Nicolaus reduced their target price on Ivanhoe Mines from C$28.00 to C$22.00 and set a “buy” rating on the stock in a report on Wednesday, February 11th. Scotiabank raised their price objective on Ivanhoe Mines from C$18.50 to C$20.00 and gave the stock an “outperform” rating in a research note on Thursday, January 8th. Finally, Jefferies Financial Group lowered shares of Ivanhoe Mines from a “buy” rating to a “hold” rating and lowered their target price for the company from C$18.00 to C$16.00 in a research note on Monday, December 8th. Six analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of C$17.95.

Ivanhoe Mines Price Performance

The firm has a market capitalization of C$23.00 billion, a price-to-earnings ratio of 73.64 and a beta of 1.91. The company has a current ratio of 1.36, a quick ratio of 20.86 and a debt-to-equity ratio of 2.48. The business has a 50-day moving average price of C$16.26 and a two-hundred day moving average price of C$14.32.

Ivanhoe Mines (TSE:IVN) last issued its quarterly earnings data on Wednesday, February 18th. The company reported C$0.06 EPS for the quarter. The company had revenue of C$183.99 million for the quarter. As a group, research analysts forecast that Ivanhoe Mines Ltd. will post 1.0136483 EPS for the current year.

Insider Buying and Selling

In related news, insider Citic Metal Africa Investments Limited sold 350,000 shares of Ivanhoe Mines stock in a transaction dated Tuesday, December 30th. The shares were sold at an average price of C$15.71, for a total value of C$5,498,500.00. Also, Director Peter Meredith sold 13,459 shares of the business’s stock in a transaction dated Tuesday, January 13th. The shares were sold at an average price of C$16.43, for a total transaction of C$221,131.37. Following the transaction, the director directly owned 841,256 shares of the company’s stock, valued at C$13,821,836.08. The trade was a 1.57% decrease in their ownership of the stock. Insiders have sold a total of 566,849 shares of company stock valued at $8,458,448 in the last quarter. Company 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.