Ivanhoe Mines (TSE:IVN) Share Price Passes Above Fifty Day Moving Average – Time to Sell?

Ivanhoe Mines Ltd. (TSE:IVN)’s share price passed above its 50-day moving average during trading on Monday . The stock has a 50-day moving average of C$13.14 and traded as high as C$14.35. Ivanhoe Mines shares last traded at C$13.81, with a volume of 2,817,934 shares changing hands.

Analyst Ratings Changes

IVN has been the topic of a number of analyst reports. UBS Group lowered their target price on shares of Ivanhoe Mines from C$19.00 to C$17.00 in a report on Wednesday, April 23rd. Citigroup decreased their price objective on Ivanhoe Mines from C$24.00 to C$20.00 and set a “buy” rating on the stock in a research note on Tuesday, February 25th. TD Securities dropped their price objective on Ivanhoe Mines from C$22.00 to C$17.00 in a report on Tuesday, April 15th. Finally, Jefferies Financial Group lifted their target price on Ivanhoe Mines from C$23.00 to C$24.00 in a report on Friday, April 4th. Five research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of C$21.38.

Ivanhoe Mines Stock Performance

The firm has a market capitalization of C$13.09 billion, a PE ratio of 83.49 and a beta of 1.94. The company has a quick ratio of 20.86, a current ratio of 1.36 and a debt-to-equity ratio of 2.48. The company has a 50-day moving average of C$13.14 and a 200 day moving average of C$15.70.

About Ivanhoe Mines

Ivanhoe Mines Ltd. engages in the mining, development, and exploration of minerals and precious metals primarily in Africa. It explores for platinum, palladium, nickel, copper, gold, rhodium, zinc, silver, germanium, and lead deposits. The company's projects include the Platreef project located in the Northern Limb of South Africa's Bushveld Complex; the Kipushi project located in Haut-Katanga Province, Democratic Republic of Congo; and the Kamoa-Kakula project located within the Central African Copperbelt.