Ivanhoe Mines (TSE:IVN) Stock Passes Below 200 Day Moving Average – Should You Sell?

Shares of Ivanhoe Mines Ltd. (TSE:IVN) crossed below its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of C$14.60 and traded as low as C$13.57. Ivanhoe Mines shares last traded at C$13.97, with a volume of 7,381,455 shares.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the stock. Stifel Nicolaus cut their price objective on shares of Ivanhoe Mines from C$28.00 to C$22.00 and set a “buy” rating for the company in a research report on Wednesday, February 11th. Canaccord Genuity Group cut Ivanhoe Mines from a “buy” rating to a “hold” rating and dropped their price target for the stock from C$18.00 to C$15.00 in a report on Friday, February 20th. Jefferies Financial Group downgraded Ivanhoe Mines from a “buy” rating to a “hold” rating and reduced their price target for the company from C$18.00 to C$16.00 in a research note on Monday, December 8th. Finally, Scotiabank upped their price objective on Ivanhoe Mines from C$18.50 to C$20.00 and gave the company an “outperform” rating in a report on Thursday, January 8th. Five equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of C$17.80.

Ivanhoe Mines Price Performance

The company has a quick ratio of 20.86, a current ratio of 2.23 and a debt-to-equity ratio of 21.62. The company’s fifty day moving average price is C$16.45 and its 200 day moving average price is C$14.60. The company has a market capitalization of C$19.83 billion, a P/E ratio of 73.53 and a beta of 1.91.

Ivanhoe Mines (TSE:IVN) last issued its quarterly earnings results on Wednesday, February 18th. The company reported C$0.06 earnings per share (EPS) for the quarter. Ivanhoe Mines had a return on equity of 4.76% and a net margin of 59.26%.The business had revenue of C$183.99 million for the quarter. As a group, sell-side analysts forecast that Ivanhoe Mines Ltd. will post 1.0136483 EPS for the current year.

Insider Transactions at Ivanhoe Mines

In related news, Director Peter Meredith sold 13,459 shares of the firm’s stock in a transaction on Tuesday, January 13th. The stock was sold at an average price of C$16.43, for a total value of C$221,131.37. Following the transaction, the director owned 841,256 shares in the company, valued at approximately C$13,821,836.08. This trade represents a 1.57% decrease in their ownership of the stock. Also, insider Citic Metal Africa Investments Limited sold 350,000 shares of the business’s 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. In the last three months, insiders have sold 566,849 shares of company stock valued at $8,458,448. 44.96% of the stock is owned by corporate 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.