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

Ivanhoe Mines Ltd. (TSE:IVN) shares crossed above its fifty day moving average during trading on Wednesday . The stock has a fifty 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.

Analyst Upgrades and Downgrades

IVN has been the topic of a number of analyst reports. BMO Capital Markets decreased their price objective on Ivanhoe Mines from C$23.00 to C$16.00 in a research note on Wednesday, April 1st. TD Securities decreased their price objective on Ivanhoe Mines from C$19.00 to C$13.00 and set a “buy” rating on the stock in a research note on Wednesday, April 1st. Citigroup reduced their target price on 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. Raymond James Financial downgraded Ivanhoe Mines from a “moderate buy” rating to a “hold” rating and reduced their target price for the stock from C$23.00 to C$17.00 in a research report on Wednesday, April 1st. Finally, Royal Bank Of Canada downgraded Ivanhoe Mines from a “moderate buy” rating to a “hold” rating in a research report on Monday, April 6th. Three research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat.com, Ivanhoe Mines presently has an average rating of “Hold” and an average price target of C$14.60.

Ivanhoe Mines Price Performance

The company has a 50-day moving average of C$11.79 and a two-hundred day moving average of C$14.00. The stock has a market capitalization of C$16.77 billion, a PE ratio of 130.67 and a beta of 1.76. The company has a debt-to-equity ratio of 21.02, a current ratio of 2.33 and a quick ratio of 20.86.

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

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.