Ivanhoe Mines Ltd. (TSE:IVN – Get Rating) shares passed above its 50 day moving average during trading on Thursday . The stock has a 50 day moving average of C$8.29 and traded as high as C$8.96. Ivanhoe Mines shares last traded at C$8.67, with a volume of 663,229 shares changing hands.
Wall Street Analyst Weigh In
A number of equities research analysts recently weighed in on IVN shares. Scotiabank reduced their price objective on Ivanhoe Mines from C$15.00 to C$13.00 in a research report on Thursday, July 7th. Raymond James dropped their price objective on Ivanhoe Mines from C$13.50 to C$13.00 and set an “outperform” rating on the stock in a research note on Tuesday, July 19th. Finally, Royal Bank of Canada dropped their price target on Ivanhoe Mines from C$14.00 to C$12.00 and set an “outperform” rating on the stock in a research note on Tuesday, August 16th. Five analysts have rated the stock with a buy rating, According to MarketBeat, Ivanhoe Mines has an average rating of “Buy” and a consensus price target of C$14.19.
Ivanhoe Mines Trading Down 1.6 %
The company has a debt-to-equity ratio of 18.18, a quick ratio of 21.62 and a current ratio of 22.59. The business has a 50 day moving average of C$8.29 and a two-hundred day moving average of C$9.40. The firm has a market capitalization of C$10.53 billion and a price-to-earnings ratio of 17.00.
About Ivanhoe Mines
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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