Ivanhoe Mines (TSE:IVN) Stock Crosses Above Fifty Day Moving Average – Should You 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$16.97 and traded as high as C$17.19. Ivanhoe Mines shares last traded at C$16.66, with a volume of 1,302,419 shares.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on IVN shares. Raymond James decreased their price objective on shares of Ivanhoe Mines from C$25.00 to C$24.00 and set an “outperform” rating for the company in a report on Thursday, January 9th. TD Securities lowered their target price on shares of Ivanhoe Mines from C$25.00 to C$24.00 and set a “buy” rating for the company in a research note on Thursday, January 9th. Finally, Scotiabank lowered their target price on shares of Ivanhoe Mines from C$21.00 to C$20.00 and set an “outperform” rating for the company in a research note on Thursday, January 9th. Eight research analysts have rated the stock with a buy rating, According to MarketBeat, Ivanhoe Mines currently has an average rating of “Buy” and a consensus target price of C$24.00.

Ivanhoe Mines Stock Down 1.8 %

The business’s 50 day moving average is C$16.97 and its 200-day moving average is C$17.81. The company has a debt-to-equity ratio of 2.48, a current ratio of 1.36 and a quick ratio of 20.86. The company has a market cap of C$15.79 billion, a PE ratio of 100.72 and a beta of 1.94.

Insiders Place Their Bets

In related news, Senior Officer Chao (Peter) Zhou sold 4,800 shares of the business’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of C$19.00, for a total value of C$91,200.00. Also, Director Jinghe Chen sold 60,288 shares of the business’s stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of C$19.00, for a total transaction of C$1,145,472.00. Over the last quarter, insiders have sold 65,188 shares of company stock valued at $1,238,584. 44.96% of the stock is owned by corporate insiders.

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.