Ivanhoe Mines (TSE:IVN) Share Price Passes Above 50-Day Moving Average – Should You Sell?

Ivanhoe Mines Ltd. (TSE:IVN) shares crossed 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 trading hands.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on IVN shares. Scotiabank dropped 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 note on Thursday, January 9th. Raymond James reduced their price objective on Ivanhoe Mines from C$25.00 to C$24.00 and set an “outperform” rating on the stock in a research note on Thursday, January 9th. Finally, TD Securities decreased their price objective 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. Eight analysts have rated the stock with a buy rating, According to MarketBeat, the company has a consensus rating of “Buy” and an average target price 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 stock’s 50 day moving average is C$16.82 and its two-hundred day moving average is C$17.78. The company has a market capitalization of C$14.96 billion, a PE ratio of 95.40 and a beta of 1.94.

Insider Buying and Selling at Ivanhoe Mines

In related news, Director Jinghe Chen sold 60,288 shares of the firm’s stock in a transaction on Thursday, November 21st. The stock was 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 Ivanhoe Mines stock in a transaction dated Monday, November 25th. The stock was sold at an average price of C$19.00, for a total value of C$91,200.00. In the last 90 days, insiders have sold 65,188 shares of company stock valued at $1,238,584. 44.96% of the stock is currently 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.