Ivanhoe Mines (TSE:IVN) Stock Price Passes Below 50 Day Moving Average of $18.92

Ivanhoe Mines Ltd. (TSE:IVN - Get Free Report)'s stock price crossed below its 50-day moving average during trading on Monday . The stock has a 50-day moving average of C$18.92 and traded as low as C$17.60. Ivanhoe Mines shares last traded at C$17.65, with a volume of 2,214,165 shares.

Analysts Set New Price Targets

IVN has been the topic of a number of recent research reports. Jefferies Financial Group set a C$25.00 price objective on shares of Ivanhoe Mines and gave the company a "buy" rating in a research note on Friday, May 3rd. Eight Capital increased their price target on Ivanhoe Mines from C$19.00 to C$30.00 in a research note on Monday, April 22nd. Royal Bank of Canada lifted their price objective on Ivanhoe Mines from C$19.00 to C$22.00 and gave the stock an "outperform" rating in a research note on Wednesday, May 1st. BMO Capital Markets upped their price objective on Ivanhoe Mines from C$18.00 to C$22.00 and gave the company an "outperform" rating in a report on Wednesday, May 1st. Finally, Citigroup raised their target price on Ivanhoe Mines from C$15.00 to C$24.00 and gave the stock a "buy" rating in a report on Thursday, June 20th. Nine research analysts have rated the stock with a buy rating, According to MarketBeat.com, Ivanhoe Mines presently has a consensus rating of "Buy" and an average price target of C$23.25.

Ivanhoe Mines Stock Performance

The company has a debt-to-equity ratio of 18.77, a quick ratio of 20.86 and a current ratio of 0.42. The stock has a market cap of C$22.54 billion, a price-to-earnings ratio of 90.89 and a beta of 1.98. The stock has a fifty day simple moving average of C$18.92 and a two-hundred day simple moving average of C$16.27.

Ivanhoe Mines (TSE:IVN - Get Free Report) last issued its quarterly earnings data on Tuesday, April 30th. The company reported C($0.07) earnings per share for the quarter, missing analysts' consensus estimates of C($0.01) by C($0.06). Analysts expect that Ivanhoe Mines Ltd. will post 0.4653228 EPS for the current fiscal year.

Insider Activity at Ivanhoe Mines

In other news, insider CITIC Metal Africa Investments Limited sold 11,810,800 shares of the business's stock in a transaction that occurred on Monday, June 17th. The shares were sold at an average price of C$17.41, for a total value of C$205,626,028.00. In related news, Senior Officer Mary Vincelli sold 3,600 shares of the business's stock in a transaction 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 firm's 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 worth $210,024,706 over the last three months. Company insiders own 50.86% 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.