Ivanhoe Mines (TSE:IVN) Share Price Crosses Above 50 Day Moving Average – What’s Next?

Ivanhoe Mines Ltd. (TSE:IVN)’s share price crossed above its 50 day moving average during trading on Wednesday . The stock has a 50 day moving average of C$11.87 and traded as high as C$13.07. Ivanhoe Mines shares last traded at C$12.63, with a volume of 5,662,513 shares changing hands.

Analysts Set New Price Targets

Several brokerages recently issued reports on IVN. Canaccord Genuity Group decreased their price target on shares of Ivanhoe Mines from C$15.00 to C$11.50 and set a “hold” rating on the stock in a report on Monday, April 6th. BMO Capital Markets cut their target price on shares of Ivanhoe Mines from C$23.00 to C$16.00 in a research report on Wednesday, April 1st. Citigroup cut their target price on shares of Ivanhoe Mines from C$18.00 to C$13.00 and set a “buy” rating on the stock in a research report on Thursday, April 9th. Royal Bank Of Canada downgraded shares of Ivanhoe Mines from a “moderate buy” rating to a “hold” rating in a research report on Monday, April 6th. Finally, Stifel Nicolaus cut their target price on shares of Ivanhoe Mines from C$22.00 to C$15.00 in a research report on Wednesday, April 1st. Three analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat, Ivanhoe Mines presently has an average rating of “Hold” and an average target price of C$14.60.

Ivanhoe Mines Stock Down 0.9%

The company has a current ratio of 2.33, a quick ratio of 20.86 and a debt-to-equity ratio of 21.02. The stock’s 50-day moving average is C$11.87 and its 200-day moving average is C$14.03. The company has a market cap of C$18.01 billion, a price-to-earnings ratio of 140.33 and a beta of 1.76.

Ivanhoe Mines (TSE:IVN) last announced its quarterly earnings results on Wednesday, February 18th. The company reported C$0.06 EPS for the quarter. Ivanhoe Mines had a net margin of 25.05% and a return on equity of 2.32%. The business had revenue of C$183.99 million during the quarter. On average, analysts anticipate that Ivanhoe Mines Ltd. will post 1.0136483 earnings per share for the current fiscal year.

Ivanhoe Mines Company Profile

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.