Ivanhoe Mines (TSE:IVN) Share Price Passes Above 50 Day Moving Average – Here’s What Happened

Shares of Ivanhoe Mines Ltd. (TSE:IVN) passed above its 50 day moving average during trading on Thursday . The stock has a 50 day moving average of C$13.89 and traded as high as C$15.90. Ivanhoe Mines shares last traded at C$15.65, with a volume of 1,128,302 shares changing hands.

Analyst Ratings Changes

Several analysts recently commented on the company. Scotiabank raised Ivanhoe Mines from a “hold” rating to an “outperform” rating and boosted their price target for the company from C$12.50 to C$17.00 in a research note on Monday, September 29th. Jefferies Financial Group downgraded shares of Ivanhoe Mines from a “buy” rating to a “hold” rating and reduced their target price for the company from C$18.00 to C$16.00 in a research note on Monday, December 8th. Stifel Nicolaus upped their target price on shares of Ivanhoe Mines from C$16.00 to C$18.00 in a report on Tuesday, October 21st. Citigroup lifted their price target on shares of Ivanhoe Mines from C$14.00 to C$18.00 and gave the company a “buy” rating in a report on Wednesday, October 8th. Finally, TD Securities upped their price objective on shares of Ivanhoe Mines from C$13.00 to C$16.00 and gave the stock a “buy” rating in a research note on Monday, September 29th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, Ivanhoe Mines presently has a consensus rating of “Buy” and a consensus price target of C$17.25.

Ivanhoe Mines Trading Down 1.8%

The company’s 50-day moving average is C$13.91 and its 200-day moving average is C$12.69. The company has a debt-to-equity ratio of 2.48, a quick ratio of 20.86 and a current ratio of 1.36. The firm has a market cap of C$22.22 billion, a price-to-earnings ratio of 71.14 and a beta of 1.96.

Ivanhoe Mines (TSE:IVN) last posted its quarterly earnings data on Wednesday, October 29th. The company reported C$0.02 earnings per share for the quarter. The company had revenue of C$180.18 million during the quarter. On average, research analysts predict that Ivanhoe Mines Ltd. will post 1.0136483 earnings per share for the current year.

Insiders Place Their Bets

In related news, insider Mark Sean Farren sold 60,000 shares of the business’s stock in a transaction that occurred on Tuesday, December 16th. The shares were sold at an average price of C$13.40, for a total value of C$804,000.00. Following the completion of the transaction, the insider owned 174,923 shares in the company, valued at C$2,343,968.20. The trade was a 25.54% decrease in their position. In the last three months, insiders have sold 200,290 shares of company stock valued at $2,687,823. Insiders own 44.96% of the company’s stock.

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.