Ivanhoe Mines (TSE:IVN) Stock Price Crosses Below 200 Day Moving Average – What’s Next?

Shares of Ivanhoe Mines Ltd. (TSE:IVN) passed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$12.92 and traded as low as C$10.44. Ivanhoe Mines shares last traded at C$10.68, with a volume of 6,194,053 shares trading hands.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on IVN shares. 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 research note on Monday, June 15th. BMO Capital Markets lowered their price objective on shares of Ivanhoe Mines from C$23.00 to C$16.00 in a research report on Wednesday, April 1st. Morgan Stanley raised shares of Ivanhoe Mines from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from C$12.00 to C$13.20 in a research note on Wednesday, July 8th. TD Securities reduced their target price on Ivanhoe Mines from C$19.00 to C$13.00 and set a “buy” rating for the company in a report on Wednesday, April 1st. Finally, Raymond James Financial cut Ivanhoe Mines from a “moderate buy” rating to a “hold” rating and decreased their target price for the stock from C$23.00 to C$17.00 in a research report on Wednesday, April 1st. Five equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of C$14.41.

Ivanhoe Mines Stock Down 0.2%

The business has a fifty day moving average price of C$11.17 and a two-hundred day moving average price of C$12.84. The company has a current ratio of 2.33, a quick ratio of 20.86 and a debt-to-equity ratio of 21.02. The company has a market cap of C$15.08 billion, a price-to-earnings ratio of 117.44 and a beta of 1.58.

Ivanhoe Mines (TSE:IVN) last posted its quarterly earnings results on Wednesday, July 29th. The company reported C$0.04 EPS for the quarter. Ivanhoe Mines had a net margin of 24.92% and a return on equity of 2.32%. The business had revenue of C$216.83 million during the quarter. On average, equities analysts predict that Ivanhoe Mines Ltd. will post 1.0136483 earnings per share for the current year.

Insider Activity

In other Ivanhoe Mines news, Director Setha Patricia Makhesha sold 5,200 shares of Ivanhoe Mines stock in a transaction on Thursday, May 21st. The shares were sold at an average price of C$11.45, for a total transaction of C$59,540.00. Following the completion of the sale, the director owned 77,922 shares of the company’s stock, valued at C$892,206.90. This trade represents a 6.26% decrease in their position. Over the last three months, insiders have sold 10,000 shares of company stock worth $114,554. Company insiders own 44.96% of the company’s stock.

Ivanhoe Mines Company Profile

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.