Ivanhoe Mines (TSE:IVN) Posts Earnings Results

Ivanhoe Mines (TSE:IVN) announced its quarterly earnings data on Tuesday. The company reported C$0.06 earnings per share for the quarter, FiscalAI reports. The firm had revenue of C$375.60 million during the quarter. Ivanhoe Mines had a return on equity of 2.32% and a net margin of 23.46%.

Ivanhoe Mines Stock Down 1.3%

IVN stock opened at C$8.88 on Wednesday. The company has a debt-to-equity ratio of 21.70, a current ratio of 2.16 and a quick ratio of 20.86. The stock has a market capitalization of C$12.67 billion, a P/E ratio of 98.67 and a beta of 1.60. Ivanhoe Mines has a fifty-two week low of C$8.88 and a fifty-two week high of C$20.34. The business has a 50-day moving average of C$11.35 and a 200-day moving average of C$12.28.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on IVN shares. Scotia lifted their target price on shares of Ivanhoe Mines from C$13.00 to C$13.50 and gave the company a “sector perform” rating in a research note on Wednesday, September 9th. Morgan Stanley raised Ivanhoe Mines from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from C$12.00 to C$13.20 in a report on Wednesday, July 8th. Stifel Nicolaus lifted their target price on Ivanhoe Mines from C$15.00 to C$17.00 and gave the company a “buy” rating in a research note on Wednesday, September 9th. Finally, Canaccord Genuity Group increased their price target on Ivanhoe Mines from C$13.00 to C$15.00 and gave the stock a “buy” rating in a report on Wednesday, September 9th. Five investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of C$14.72.

Ivanhoe Mines Company Profile

Ivanhoe Mines is a Canadian mining company focused on advancing its three principal operations in Southern Africa; the Kamoa-Kakula Copper Complex in the DRC, the ultra-high-grade Kipushi zinc-copper-germanium-silver mine, also in the DRC; and the tier-one Platreef platinum-palladium-nickel-rhodium-gold-copper mine in South Africa. Ivanhoe Mines is exploring for copper in its highly prospective, 54-100% owned exploration licences in the Western Forelands, covering an area over six times larger than the adjacent Kamoa-Kakula Copper Complex, including the high-grade discoveries in the Makoko District.