Ivanhoe Mines (TSE:IVN) Shares Cross Above Fifty Day Moving Average – Should You Sell?

Ivanhoe Mines Ltd. (TSE:IVN) shares crossed above its fifty day moving average during trading on Friday . The stock has a fifty day moving average of C$11.57 and traded as high as C$12.48. Ivanhoe Mines shares last traded at C$12.21, with a volume of 7,949,485 shares trading hands.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the stock. Raymond James Financial lowered shares of Ivanhoe Mines from a “moderate buy” rating to a “hold” rating and cut their price objective for the company from C$23.00 to C$17.00 in a research report on Wednesday, April 1st. Stifel Nicolaus cut their price objective on shares of Ivanhoe Mines from C$22.00 to C$15.00 in a research report on Wednesday, April 1st. TD Securities cut their price objective on shares of Ivanhoe Mines from C$19.00 to C$13.00 and set a “buy” rating for the company in a research report on Wednesday, April 1st. Royal Bank Of Canada lowered shares of Ivanhoe Mines from a “moderate buy” rating to a “hold” rating in a research report on Monday, April 6th. Finally, Canaccord Genuity Group cut their price objective on shares of Ivanhoe Mines from C$15.00 to C$11.50 and set a “hold” rating for the company in a research report on Monday, April 6th. Three research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Ivanhoe Mines has a consensus rating of “Hold” and a consensus price target of C$14.60.

Ivanhoe Mines Stock Performance

The firm has a market cap of C$17.41 billion, a P/E ratio of 135.67 and a beta of 1.76. The stock’s 50 day moving average is C$11.57 and its two-hundred day moving average is C$13.86. The company has a debt-to-equity ratio of 21.02, a current ratio of 2.33 and a quick ratio of 20.86.

Insiders Place Their Bets

In related news, Director Setha Patricia Makhesha sold 5,200 shares of the company’s stock in a transaction dated Thursday, May 21st. The shares were sold at an average price of C$11.45, for a total value of C$59,540.00. Following the sale, the director owned 77,922 shares of the company’s stock, valued at C$892,206.90. The trade was a 6.26% decrease in their ownership of the stock. Insiders have sold a total of 10,000 shares of company stock valued at $114,554 over the last quarter. Insiders own 44.96% of the company’s stock.

Ivanhoe Mines Company Profile

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.