Ivanhoe Mines (TSE:IVN) Shares Cross Below 50-Day Moving Average of $18.92

Shares of Ivanhoe Mines Ltd. (TSE:IVN) passed below its fifty day moving average during trading on Monday . The stock has a fifty day moving average of C$18.92 and traded as low as C$17.60. Ivanhoe Mines shares last traded at C$17.65, with a volume of 2,214,165 shares.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the company. Eight Capital upped their price objective on Ivanhoe Mines from C$19.00 to C$30.00 in a report on Monday, April 22nd. Canaccord Genuity Group upped their target price on Ivanhoe Mines from C$22.00 to C$24.00 and gave the company a “buy” rating in a report on Monday, May 13th. Bank of America upped their target price on Ivanhoe Mines from C$15.50 to C$21.00 in a report on Tuesday, April 9th. Royal Bank of Canada upped their target price on Ivanhoe Mines from C$19.00 to C$22.00 and gave the company an “outperform” rating in a report on Wednesday, May 1st. Finally, Jefferies Financial Group set a C$25.00 target price on Ivanhoe Mines and gave the company a “buy” rating in a report on Friday, May 3rd. Nine analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Ivanhoe Mines has an average rating of “Buy” and a consensus price target of C$23.25.

Ivanhoe Mines Price Performance

The company has a debt-to-equity ratio of 18.77, a current ratio of 0.42 and a quick ratio of 20.86. The company has a 50-day moving average price of C$18.92 and a 200-day moving average price of C$16.32. The firm has a market capitalization of C$23.77 billion, a PE ratio of 98.53 and a beta of 1.98.

Ivanhoe Mines (TSE:IVN) last issued its quarterly earnings data on Tuesday, April 30th. The company reported C($0.07) earnings per share (EPS) for the quarter, missing the consensus estimate of C($0.01) by C($0.06). Sell-side analysts forecast that Ivanhoe Mines Ltd. will post 0.4653228 EPS for the current year.

Insider Buying and Selling

In related news, Senior Officer Mary Vincelli sold 3,600 shares of the stock in a transaction dated Thursday, June 20th. The stock was sold at an average price of C$17.96, for a total transaction of C$64,639.80. In related news, Senior Officer Mary Vincelli sold 3,600 shares of the stock in a transaction dated Thursday, June 20th. The stock was sold at an average price of C$17.96, for a total transaction of C$64,639.80. Also, Director Delphine Traoré bought 5,704 shares of Ivanhoe Mines stock in a transaction that occurred on Monday, June 17th. The shares were acquired at an average price of C$17.40 per share, for a total transaction of C$99,249.60. Over the last ninety days, insiders have sold 12,064,614 shares of company stock worth $210,024,706. 50.86% of the stock is owned by company insiders.

Ivanhoe Mines Company Profile

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.