Ivanhoe Mines (OTCMKTS:IVPAF) Share Price Breaks Above 50-Day Moving Average – Time to Sell?

Ivanhoe Mines Ltd. (OTCMKTS:IVPAF) shares passed above its 50-day moving average during trading on Monday. The stock has a 50-day moving average of $8.39 and traded as high as $8.50. Ivanhoe Mines shares last traded at $8.4795, with a volume of 662,442 shares trading hands.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the company. Canaccord Genuity Group raised Ivanhoe Mines from a “hold” rating to a “strong-buy” rating in a research note on Monday, July 20th. Jefferies Financial Group reissued a “hold” rating on shares of Ivanhoe Mines in a research report on Monday, July 6th. Morgan Stanley raised shares of Ivanhoe Mines from a “negative” rating to an “overweight” rating in a research note on Wednesday, July 8th. Finally, Scotiabank reiterated a “sector perform” rating on shares of Ivanhoe Mines in a report on Wednesday, September 9th. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $15.20.

Ivanhoe Mines Price Performance

The stock has a market capitalization of $11.74 billion, a P/E ratio of 91.44 and a beta of 1.03. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.89 and a current ratio of 2.16. The firm has a fifty day moving average price of $8.40 and a two-hundred day moving average price of $8.29.

Ivanhoe Mines (OTCMKTS:IVPAF) last released its quarterly earnings results on Wednesday, July 29th. The company reported $0.03 earnings per share for the quarter, missing the consensus estimate of $0.06 by ($0.03). The business had revenue of $152.61 million during the quarter, compared to the consensus estimate of $202.11 million. Ivanhoe Mines had a return on equity of 5.07% and a net margin of 23.47%. As a group, analysts expect that Ivanhoe Mines Ltd. will post 0.3 EPS for the current fiscal year.

About Ivanhoe Mines

Ivanhoe Mines Ltd. is a Canadian mining and mineral exploration company headquartered in Vancouver, British Columbia. The company focuses on the discovery, development and operation of mineral projects, with an emphasis on copper, zinc, nickel and platinum-group metals.

Its principal asset is the Kamoa-Kakula Copper Complex in the Democratic Republic of the Congo, one of the company’s flagship copper development and production projects. Ivanhoe Mines also operates the Kipushi zinc-copper-germanium-lead mine in the Democratic Republic of the Congo and is developing the Platreef project in South Africa, which is expected to produce nickel, copper, platinum, palladium, rhodium and gold.

Ivanhoe Mines was founded in 1993 by mining entrepreneur Robert Friedland and has built a portfolio concentrated in Southern and Central Africa.