Ivanhoe Mines Makes a Move: Down 4.5%
Ivanhoe Mines (NYSE:IVN) is a company whose shares are active, trading 4.5% lower to $21.38. The S&P is currently trading 0.5% lower to 1,247 and the Dow Jones Industrial Average is trading 0.4% lower to 11,935.Potential upside of 10.4% exists for Ivanhoe Mines, based on a current level of $21.38 and analysts’ average consensus price target of $23.59. Ivanhoe Mines shares should encounter resistance at the 200-day moving average (MA) of $23.69 and support at the 50-day MA of $18.61.
Ivanhoe Mines Ltd. explores for and develops gold, copper, uranium, and coal. The Company operates in Mongolia, China, and Australia.
In the past 52 weeks, Ivanhoe Mines share prices have been bracketed by a low of $12.11 and a high of $30.03 and are now at $21.38, 77% above that low price. Over the last five market days, the 200-day moving average (MA) has gone down 0.5% while the 50-day MA has advanced 1.0%.
By Peter Chu
pchu@fnno.com
Ivanhoe Mines Ltd. explores for and develops gold, copper, uranium, and coal. The Company operates in Mongolia, China, and Australia.
In the past 52 weeks, Ivanhoe Mines share prices have been bracketed by a low of $12.11 and a high of $30.03 and are now at $21.38, 77% above that low price. Over the last five market days, the 200-day moving average (MA) has gone down 0.5% while the 50-day MA has advanced 1.0%.
By Peter Chu
pchu@fnno.com
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