Ivanhoe Mines (TSE:IVN) Stock Passes Below 200-Day Moving Average – Time to Sell?

Ivanhoe Mines Ltd. (TSE:IVN)’s share price crossed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$11.98 and traded as low as C$11.80. Ivanhoe Mines shares last traded at C$12.11, with a volume of 5,358,991 shares traded.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on IVN shares. Canaccord Genuity Group raised Ivanhoe Mines from a “hold” rating to a “buy” rating and raised their price target for the stock from C$12.00 to C$13.00 in a report on Tuesday, July 21st. Scotiabank upped their price objective on Ivanhoe Mines from C$13.00 to C$13.50 and gave the stock a “sector perform” rating in a research note on Monday, June 15th. Finally, Morgan Stanley raised Ivanhoe Mines from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from C$12.00 to C$13.20 in a research report on Wednesday, July 8th. Five research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, Ivanhoe Mines has an average rating of “Moderate Buy” and an average price target of C$14.41.

Ivanhoe Mines Price Performance

The stock’s fifty day moving average price is C$11.04 and its 200-day moving average price is C$11.94. The firm has a market cap of C$16.45 billion, a price-to-earnings ratio of 128.11 and a beta of 1.54. The company has a debt-to-equity ratio of 21.70, a current ratio of 2.16 and a quick ratio of 20.86.

Ivanhoe Mines (TSE:IVN) last released its earnings results on Wednesday, July 29th. The company reported C$0.04 earnings per share for the quarter. Ivanhoe Mines had a return on equity of 2.32% and a net margin of 23.46%.The company had revenue of C$216.83 million for the quarter. Equities research analysts predict that Ivanhoe Mines Ltd. will post 1.0136483 EPS for the current fiscal year.

Ivanhoe Mines Company Profile

Ivanhoe Mines is a Canadian mining company focused on advancing its three principal operations in Southern Africa; the Kamoa-Kakula Copper Complex in the DRC, the ultra-high-grade Kipushi zinc-copper-germanium-silver mine, also in the DRC; and the tier-one Platreef platinum-palladium-nickel-rhodium-gold-copper mine in South Africa. Ivanhoe Mines is exploring for copper in its highly prospective, 54-100% owned exploration licences in the Western Forelands, covering an area over six times larger than the adjacent Kamoa-Kakula Copper Complex, including the high-grade discoveries in the Makoko District.