Ivanhoe Mines (TSE:IVN) Shares Cross Above 50 Day Moving Average – Should You Sell?

Ivanhoe Mines Ltd. (TSE:IVN)’s stock price passed above its fifty day moving average during trading on Thursday. The stock has a fifty day moving average of C$11.61 and traded as high as C$12.14. Ivanhoe Mines shares last traded at C$11.95, with a volume of 4,924,117 shares changing hands.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the company. Stifel Nicolaus lifted their price objective on Ivanhoe Mines from C$15.00 to C$17.00 and gave the stock a “buy” rating in a research note on Wednesday, September 9th. Scotia boosted their price target on Ivanhoe Mines from C$13.00 to C$13.50 and gave the company a “sector perform” rating in a research note on Wednesday, September 9th. Canaccord Genuity Group lifted their price target on shares of Ivanhoe Mines from C$13.00 to C$15.00 and gave the company a “buy” rating in a report on Wednesday, September 9th. Morgan Stanley upgraded shares of Ivanhoe Mines from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from C$12.00 to C$13.20 in a research report on Wednesday, July 8th. Finally, Scotiabank raised their price objective on shares of Ivanhoe Mines from C$13.00 to C$13.50 and gave the stock a “sector perform” rating in a report on Monday, June 15th. Five analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of C$14.72.

Ivanhoe Mines Stock Up 0.9%

The company has a market cap of C$17.20 billion, a price-to-earnings ratio of 134.00 and a beta of 1.58. The company has a current ratio of 2.16, a quick ratio of 20.86 and a debt-to-equity ratio of 21.70. The firm’s fifty day moving average price is C$11.65 and its 200-day moving average price is C$11.57.

Ivanhoe Mines (TSE:IVN) last announced its earnings results on Wednesday, July 29th. The company reported C$0.04 EPS for the quarter. Ivanhoe Mines had a net margin of 23.46% and a return on equity of 2.32%. The firm had revenue of C$216.83 million for the quarter. Sell-side analysts predict that Ivanhoe Mines Ltd. will post 1.0136483 earnings per share for the current year.

About Ivanhoe Mines

Ivanhoe Mines is a Canadian mining company focused on advancing its three principal operations in Southern Africa; the Kamoa-Kakula Copper Complex in the DRC, the ultra-high-grade Kipushi zinc-copper-germanium-silver mine, also in the DRC; and the tier-one Platreef platinum-palladium-nickel-rhodium-gold-copper mine in South Africa. Ivanhoe Mines is exploring for copper in its highly prospective, 54-100% owned exploration licences in the Western Forelands, covering an area over six times larger than the adjacent Kamoa-Kakula Copper Complex, including the high-grade discoveries in the Makoko District.