Ivanhoe Mines (TSE:IVN) Stock Crosses Below 50-Day Moving Average – Time to Sell?

Ivanhoe Mines Ltd. (TSE:IVN) shares passed below its 50-day moving average during trading on Tuesday . The stock has a 50-day moving average of C$12.18 and traded as low as C$10.06. Ivanhoe Mines shares last traded at C$10.08, with a volume of 2,902,095 shares.

Wall Street Analysts Forecast Growth

Several research firms recently commented on IVN. Jefferies Financial Group cut their price target on shares of Ivanhoe Mines from C$19.00 to C$17.00 in a report on Thursday, June 12th. BMO Capital Markets dropped their price target on shares of Ivanhoe Mines from C$24.00 to C$21.00 in a research note on Friday, June 13th. Citigroup decreased their price objective on shares of Ivanhoe Mines from C$20.00 to C$14.00 in a report on Monday, June 16th. Royal Bank Of Canada decreased their price objective on shares of Ivanhoe Mines from C$24.00 to C$15.00 and set an “outperform” rating for the company in a report on Tuesday, June 17th. Finally, UBS Group reduced their price target on shares of Ivanhoe Mines from C$17.00 to C$15.00 in a report on Thursday, June 12th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of C$16.80.

Ivanhoe Mines Trading Down 0.7%

The company has a market cap of C$9.56 billion, a price-to-earnings ratio of 60.94 and a beta of 1.94. 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’s fifty day moving average price is C$12.18 and its 200-day moving average price is C$14.38.

Ivanhoe Mines Company Profile

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.