Ivanhoe Mines (TSE:IVN) Shares Pass Above 50-Day Moving Average of $17.74

Shares of Ivanhoe Mines Ltd. (TSE:IVN - Get Free Report) crossed above its fifty day moving average during trading on Tuesday . The stock has a fifty day moving average of C$17.74 and traded as high as C$19.12. Ivanhoe Mines shares last traded at C$18.99, with a volume of 1,446,572 shares.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the company. Scotiabank dropped their price target on Ivanhoe Mines from C$23.00 to C$21.00 in a research report on Monday, August 19th. Jefferies Financial Group raised their target price on shares of Ivanhoe Mines from C$25.00 to C$26.00 in a report on Friday, July 12th. Royal Bank of Canada upped their price target on shares of Ivanhoe Mines from C$19.00 to C$22.00 and gave the company an "outperform" rating in a report on Wednesday, May 1st. TD Securities increased their price target on shares of Ivanhoe Mines from C$23.00 to C$25.00 in a research report on Monday, July 22nd. Finally, BMO Capital Markets lifted their price objective on Ivanhoe Mines from C$18.00 to C$22.00 and gave the stock an "outperform" rating in a research report on Wednesday, May 1st. Nine research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company currently has a consensus rating of "Buy" and a consensus target price of C$24.00.

Ivanhoe Mines Price Performance

The company has a 50 day moving average of C$17.74 and a 200 day moving average of C$17.50. 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 capitalization of C$24.21 billion, a price-to-earnings ratio of 110.19 and a beta of 1.93.

Ivanhoe Mines (TSE:IVN - Get Free Report) last announced its quarterly earnings data on Wednesday, July 31st. The company reported C$0.08 earnings per share for the quarter, topping the consensus estimate of C$0.07 by C$0.01. As a group, equities research analysts forecast that Ivanhoe Mines Ltd. will post 0.5874016 EPS for the current fiscal year.

Insider Activity

In other Ivanhoe Mines news, Senior Officer Mary Vincelli sold 3,600 shares of the company's stock in a transaction dated Thursday, June 20th. The stock was sold at an average price of C$17.96, for a total transaction of C$64,639.80. In other Ivanhoe Mines news, Senior Officer Mary Vincelli sold 3,600 shares of the business's stock in a transaction that occurred on Thursday, June 20th. The shares were sold at an average price of C$17.96, for a total transaction of C$64,639.80. Also, insider CITIC Metal Africa Investments Limited sold 11,810,800 shares of the stock in a transaction on Monday, June 17th. The stock was sold at an average price of C$17.41, for a total transaction of C$205,626,028.00. Insiders sold 12,064,614 shares of company stock valued at $210,024,706 in the last ninety days. Company insiders own 45.03% of the company's stock.

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.