Ivanhoe Mines (TSE:IVN) Shares Cross Below 200 Day Moving Average of $10.04

Ivanhoe Mines Ltd. (TSE:IVNGet Rating) passed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of C$10.04 and traded as low as C$7.62. Ivanhoe Mines shares last traded at C$8.06, with a volume of 1,081,866 shares traded.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the company. Raymond James reduced their price objective on Ivanhoe Mines from C$13.50 to C$13.00 and set an “outperform” rating on the stock in a report on Tuesday, July 19th. Scotiabank reduced their price objective on Ivanhoe Mines from C$15.00 to C$13.00 in a report on Thursday, July 7th. Five analysts have rated the stock with a buy rating, According to MarketBeat.com, Ivanhoe Mines currently has an average rating of “Buy” and an average target price of C$13.83.

Ivanhoe Mines Stock Performance

The stock has a 50 day moving average price of C$8.12 and a two-hundred day moving average price of C$10.04. The company has a current ratio of 22.47, a quick ratio of 20.02 and a debt-to-equity ratio of 20.64. The company has a market cap of C$9.77 billion and a price-to-earnings ratio of 115.14.

Ivanhoe Mines (TSE:IVNGet Rating) last posted its quarterly earnings results on Tuesday, May 10th. The company reported C$0.03 earnings per share for the quarter, beating analysts’ consensus estimates of C$0.01 by C$0.02. Analysts predict that Ivanhoe Mines Ltd. will post 0.71 EPS for the current year.

Ivanhoe Mines Company Profile

(Get Rating)

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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