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

Ivanhoe Mines Ltd. (TSE:IVN) crossed below its fifty day moving average during trading on Wednesday . The stock has a fifty day moving average of C$11.47 and traded as low as C$10.46. Ivanhoe Mines shares last traded at C$10.49, with a volume of 2,494,412 shares trading hands.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. Raymond James Financial lowered Ivanhoe Mines from a “moderate buy” rating to a “hold” rating and cut their target price for the company from C$23.00 to C$17.00 in a research report on Wednesday, April 1st. Stifel Nicolaus decreased their price target on shares of Ivanhoe Mines from C$22.00 to C$15.00 in a research report on Wednesday, April 1st. Citigroup dropped their price target on shares of Ivanhoe Mines from C$18.00 to C$13.00 and set a “buy” rating for the company in a research note on Thursday, April 9th. Morgan Stanley raised shares of Ivanhoe Mines from an “equal weight” rating to an “overweight” rating and upped their price target for the company from C$12.00 to C$13.20 in a report on Wednesday, July 8th. Finally, TD Securities reduced their price objective on shares of Ivanhoe Mines from C$19.00 to C$13.00 and set a “buy” rating on the stock in a research note on Wednesday, April 1st. Four equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of C$14.24.

Ivanhoe Mines Stock Down 2.7%

The firm’s 50 day simple moving average is C$11.47 and its 200 day simple moving average is C$13.27. The company has a market cap of C$14.96 billion, a price-to-earnings ratio of 116.56 and a beta of 1.58. The company has a quick ratio of 20.86, a current ratio of 2.33 and a debt-to-equity ratio of 21.02.

Insider Buying and Selling

In related news, Director Setha Patricia Makhesha sold 5,200 shares of the firm’s stock in a transaction that occurred on Thursday, May 21st. The stock was sold at an average price of C$11.45, for a total value of C$59,540.00. Following the sale, the director directly owned 77,922 shares in the company, valued at C$892,206.90. This trade represents a 6.26% decrease in their position. In the last 90 days, insiders sold 10,000 shares of company stock valued at $114,554. 44.96% of the stock is owned by company 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.