Ivanhoe Mines (TSE:IVN) Share Price Passes Above 50-Day Moving Average - Should You Sell?
I'm LongbridgeAI, I can summarize articles.Ivanhoe Mines (TSE:IVN) shares crossed above their 50-day moving average, trading at C$11.83. Analysts have raised price targets and ratings; Morgan Stanley upgraded to 'overweight' with a C$13.20 target, while Stifel and Canaccord set 'buy' ratings with targets of C$17.00 and C$15.00 respectively. The consensus rating is 'Moderate Buy' with an average target of C$14.72. The company reported Q2 EPS of C$0.04.
Ivanhoe Mines Ltd. (TSE:IVN - Get Free Report)'s stock price crossed above its 50-day moving average during trading on Wednesday . The stock has a 50-day moving average of C$11.40 and traded as high as C$12.01. Ivanhoe Mines shares last traded at C$11.83, with a volume of 3,138,851 shares traded.
Analysts Set New Price Targets
Several research firms have weighed in on IVN. Morgan Stanley upgraded Ivanhoe Mines from an "equal weight" rating to an "overweight" rating and upped their price target for the stock from C$12.00 to C$13.20 in a research note on Wednesday, July 8th. Stifel Nicolaus lifted their price objective on shares of Ivanhoe Mines from C$15.00 to C$17.00 and gave the company a "buy" rating in a research report on Wednesday, September 9th. Scotiabank boosted their target price on shares of Ivanhoe Mines from C$13.00 to C$13.50 and gave the stock a "sector perform" rating in a report on Monday, June 15th. Canaccord Genuity Group upped their target price on shares of Ivanhoe Mines from C$13.00 to C$15.00 and gave the stock a "buy" rating in a research report on Wednesday, September 9th. Finally, Scotia raised their target price on shares of Ivanhoe Mines from C$13.00 to C$13.50 and gave the company a "sector perform" rating in a research note on Wednesday, September 9th. Five investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of C$14.72.
Read Our Latest Analysis on IVN
Ivanhoe Mines Stock Performance
The company has a debt-to-equity ratio of 21.70, a quick ratio of 20.86 and a current ratio of 2.16. The business's fifty day moving average price is C$11.40 and its two-hundred day moving average price is C$11.65. The stock has a market capitalization of C$16.87 billion, a P/E ratio of 131.44 and a beta of 1.58.
Ivanhoe Mines (TSE:IVN - Get Free Report) last posted its quarterly earnings data on Wednesday, July 29th. The company reported C$0.04 earnings per share (EPS) for the quarter. Ivanhoe Mines had a return on equity of 2.32% and a net margin of 23.46%.The business had revenue of C$216.83 million during the quarter. As a group, sell-side analysts forecast that Ivanhoe Mines Ltd. will post 1.0136483 earnings per share for the current year.
Ivanhoe Mines Company Profile
(Get Free Report)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.
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