Ivanhoe Mines (TSE:IVN) Stock Price Crosses Above Fifty Day Moving Average – What’s Next?

Ivanhoe Mines Ltd. (TSE:IVN)’s stock price crossed above its 50 day moving average during trading on Friday . The stock has a 50 day moving average of C$13.81 and traded as high as C$14.50. Ivanhoe Mines shares last traded at C$14.03, with a volume of 11,899,959 shares changing hands.

Wall Street Analyst Weigh In

IVN has been the subject of several research reports. Canaccord Genuity Group raised their price objective on shares of Ivanhoe Mines from C$14.00 to C$16.50 and gave the company a “buy” rating in a research report on Wednesday, October 1st. Stifel Nicolaus upped their price objective on shares of Ivanhoe Mines from C$16.00 to C$18.00 in a research note on Tuesday, October 21st. Raymond James Financial reduced their price objective on shares of Ivanhoe Mines from C$21.00 to C$20.00 in a research note on Thursday, August 21st. Jefferies Financial Group upped their price objective on shares of Ivanhoe Mines from C$16.00 to C$18.00 in a research note on Monday, October 6th. Finally, Citigroup upped their price objective on shares of Ivanhoe Mines from C$14.00 to C$18.00 and gave the company a “buy” rating in a research note on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating and six have assigned a Buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of C$17.45.

Ivanhoe Mines Stock Down 2.6%

The company has a quick ratio of 20.86, a current ratio of 1.36 and a debt-to-equity ratio of 2.48. The company has a market capitalization of C$19.91 billion, a PE ratio of 48.38 and a beta of 2.09. The business’s 50 day simple moving average is C$13.81 and its 200 day simple moving average is C$12.38.

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.