Ivanhoe Mines Ltd. (OTCMKTS:IVPAF – Get Rating)’s stock price passed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $8.47 and traded as low as $6.52. Ivanhoe Mines shares last traded at $6.62, with a volume of 158,018 shares changing hands.
Several equities analysts have weighed in on the stock. TD Securities lifted their price target on shares of Ivanhoe Mines from C$15.00 to C$16.50 in a report on Wednesday, February 23rd. Scotiabank lowered their price target on shares of Ivanhoe Mines from C$15.50 to C$15.00 in a report on Wednesday, May 11th. Raymond James boosted their target price on shares of Ivanhoe Mines from C$13.00 to C$13.50 in a report on Wednesday, April 20th. BMO Capital Markets boosted their target price on shares of Ivanhoe Mines from C$15.00 to C$16.50 in a report on Wednesday, February 23rd. Finally, Canaccord Genuity Group boosted their target price on shares of Ivanhoe Mines from C$14.00 to C$14.50 and gave the stock a “buy” rating in a report on Wednesday, February 23rd. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Buy” and an average price target of $13.81.
The stock’s 50 day moving average is $8.14 and its 200-day moving average is $8.47.
Ivanhoe Mines Ltd. engages in the exploration, development, and recovery of minerals and precious metals located primarily in Africa. It explores for platinum, palladium, nickel, copper, gold, rhodium, zinc, silver, germanium, and lead deposits. The company's projects include the Platreef project located in the Northern Limb of South Africa's Bushveld Complex; the Kipushi project located in Haut-Katanga Province, Democratic Republic of Congo; and the Kamoa-Kakula project located within the Central African Copperbelt.
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