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

Ivanhoe Mines Ltd. (TSE:IVN)’s stock price passed above its fifty day moving average during trading on Monday . The stock has a fifty 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.

Analysts Set New Price Targets

A number of research firms have issued reports on IVN. Raymond James decreased their price target 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 price target on Ivanhoe Mines from C$25.00 to C$24.00 and set a “buy” rating on the stock in a research report on Thursday, January 9th. Finally, Scotiabank decreased their price target on Ivanhoe Mines from C$21.00 to C$20.00 and set an “outperform” rating on the stock in a research report on Thursday, January 9th. Eight analysts have rated the stock with a buy rating, According to data from MarketBeat, Ivanhoe Mines currently has an average rating of “Buy” and a consensus price target of C$24.00.

Ivanhoe Mines Trading Down 3.1 %

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 firm’s 50-day simple moving average is C$16.82 and its 200 day simple moving average is C$17.78. The firm has a market cap of C$14.96 billion, a P/E ratio of 95.40 and a beta of 1.94.

Insider Transactions at Ivanhoe Mines

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