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

Ivanhoe Mines Ltd. (TSE:IVN)’s stock price passed below its fifty day moving average during trading on Thursday . The stock has a fifty day moving average of C$18.83 and traded as low as C$16.57. Ivanhoe Mines shares last traded at C$16.85, with a volume of 1,545,033 shares trading hands.

Analysts Set New Price Targets

A number of brokerages have commented on IVN. Royal Bank of Canada decreased their price objective on Ivanhoe Mines from C$25.00 to C$24.00 and set an “outperform” rating for the company in a research report on Tuesday, September 10th. Scotiabank raised their price target on shares of Ivanhoe Mines from C$21.00 to C$22.00 and gave the stock an “outperform” rating in a report on Tuesday, October 8th. Eight analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of C$24.30.

Ivanhoe Mines Stock Performance

The company has a quick ratio of 20.86, a current ratio of 1.17 and a debt-to-equity ratio of 4.24. The stock has a market cap of C$22.75 billion, a P/E ratio of 105.31 and a beta of 1.94. The firm’s 50-day moving average is C$18.83 and its two-hundred day moving average is C$18.32.

Insider Activity

In other news, Senior Officer Chao (Peter) Zhou sold 4,800 shares of the stock in a transaction dated Monday, November 25th. The stock was sold at an average price of C$19.00, for a total transaction of C$91,200.00. Also, Director Jinghe Chen sold 60,288 shares of the business’s stock in a transaction that occurred 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. In the last 90 days, insiders have sold 68,088 shares of company stock worth $1,292,379. 44.96% of the stock is 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.