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

Ivanhoe Mines Ltd. (TSE:IVN)’s share price crossed above its fifty day moving average during trading on Monday . The stock has a fifty day moving average of C$15.57 and traded as high as C$17.42. Ivanhoe Mines shares last traded at C$17.14, with a volume of 4,737,093 shares traded.

Analysts Set New Price Targets

IVN has been the topic of a number of research reports. Jefferies Financial Group lowered shares of Ivanhoe Mines from a “buy” rating to a “hold” rating and dropped their target price for the stock from C$18.00 to C$16.00 in a research report on Monday, December 8th. Stifel Nicolaus lifted their target price on Ivanhoe Mines from C$16.00 to C$18.00 in a research report on Tuesday, October 21st. Scotiabank upped their price target on Ivanhoe Mines from C$18.50 to C$20.00 and gave the company an “outperform” rating in a report on Thursday, January 8th. Finally, Citigroup raised their price objective on Ivanhoe Mines from C$14.00 to C$18.00 and gave the stock a “buy” rating in a research report on Wednesday, October 8th. Six analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of C$17.55.

Ivanhoe Mines Stock Performance

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 firm has a market cap of C$24.33 billion, a P/E ratio of 77.91 and a beta of 1.96. The stock’s 50 day moving average is C$15.57 and its two-hundred day moving average is C$13.85.

Ivanhoe Mines (TSE:IVN) last released 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 for the quarter. As a group, equities analysts predict that Ivanhoe Mines Ltd. will post 1.0136483 EPS for the current year.

Insiders Place Their Bets

In other Ivanhoe Mines news, insider Mark Sean Farren sold 60,000 shares of Ivanhoe Mines stock in a transaction on Tuesday, December 16th. The stock was sold at an average price of C$13.40, for a total transaction of C$804,000.00. Following the completion of the transaction, the insider directly owned 174,923 shares of the company’s stock, valued at approximately C$2,343,968.20. This trade represents a 25.54% decrease in their ownership of the stock. Also, Director Peter Meredith sold 13,459 shares of the business’s stock in a transaction on Tuesday, January 13th. The shares were sold at an average price of C$16.43, for a total transaction of C$221,131.37. Following the completion of the sale, the director owned 841,256 shares in the company, valued at C$13,821,836.08. This represents a 1.57% decrease in their position. Insiders sold 566,849 shares of company stock worth $8,458,448 over the last three months. 44.96% of the stock is currently owned by corporate insiders.

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.