Ivanhoe Mines (TSE:IVN) Stock Price Crosses Above 50-Day Moving Average of $3.76

Shares of Ivanhoe Mines Ltd (TSE:IVN) passed above its fifty day moving average during trading on Friday . The stock has a fifty day moving average of $3.76 and traded as high as $3.91. Ivanhoe Mines shares last traded at $3.91, with a volume of 873,992 shares trading hands.

Several research analysts recently weighed in on IVN shares. Royal Bank of Canada boosted their target price on shares of Ivanhoe Mines from C$6.00 to C$7.00 in a research note on Tuesday, July 30th. CIBC cut their target price on shares of Ivanhoe Mines from C$4.30 to C$4.00 in a research note on Friday, September 6th. Finally, Raymond James reaffirmed an “outperform” rating and set a C$6.00 price objective on shares of Ivanhoe Mines in a research note on Friday, August 9th.

The stock’s 50 day moving average price is C$3.76 and its 200 day moving average price is C$3.57. The company has a current ratio of 17.22, a quick ratio of 16.94 and a debt-to-equity ratio of 2.71. The company has a market cap of $4.37 billion and a price-to-earnings ratio of 77.60.

In related news, Director Elia Mikhael sold 19,900 shares of the stock in a transaction that occurred on Thursday, July 4th. The shares were sold at an average price of C$4.48, for a total transaction of C$89,152.00. Following the completion of the sale, the director now owns 282,148 shares of the company’s stock, valued at approximately C$1,264,023.04. Also, Senior Officer Martin Forrester Bawlf sold 39,916 shares of the stock in a transaction that occurred on Thursday, July 11th. The stock was sold at an average price of C$4.13, for a total transaction of C$164,853.08. Following the sale, the insider now directly owns 589,016 shares of the company’s stock, valued at approximately C$2,432,636.08. In the last ninety days, insiders have sold 60,816 shares of company stock valued at $257,925.

Ivanhoe Mines Company Profile (TSE:IVN)

Ivanhoe Mines Ltd. engages in the exploration, development, and recovery of minerals and precious metals located primarily in Africa. The company explores for platinum, palladium, nickel, copper, gold, rhodium, zinc, germanium, and lead deposits. Its projects include the Platreef project located in the Northern Limb of South Africa's Bushveld Complex; the Kipushi project located on the DRC's Copperbelt; and the Kamoa-Kakula project located within the Central African Copperbelt, as well as explores Western Foreland project in the Democratic Republic of Congo.

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