Ivanhoe Mines Ltd. (TSE:IVN) Expected to Post Q1 2024 Earnings of ($0.03) Per Share

Ivanhoe Mines Ltd. (TSE:IVN) – Equities researchers at Raymond James cut their Q1 2024 earnings estimates for Ivanhoe Mines in a report issued on Monday, April 22nd. Raymond James analyst F. Hamed now forecasts that the company will earn ($0.03) per share for the quarter, down from their previous estimate of $0.03. The consensus estimate for Ivanhoe Mines’ current full-year earnings is $0.51 per share. Raymond James also issued estimates for Ivanhoe Mines’ Q3 2024 earnings at $0.05 EPS and Q4 2024 earnings at $0.13 EPS.

Ivanhoe Mines (TSE:IVN) last announced its quarterly earnings results on Monday, February 26th. The company reported C$0.03 earnings per share (EPS) for the quarter, missing the consensus estimate of C$0.08 by C($0.05).

A number of other research firms also recently weighed in on IVN. Bank of America increased their price objective on Ivanhoe Mines from C$15.50 to C$21.00 in a report on Tuesday, April 9th. Eight Capital upped their price target on shares of Ivanhoe Mines from C$19.00 to C$30.00 in a research report on Monday. TD Securities upped their price target on shares of Ivanhoe Mines from C$17.00 to C$17.50 and gave the company a “buy” rating in a research report on Wednesday, February 28th. Finally, Canaccord Genuity Group upped their price target on shares of Ivanhoe Mines from C$16.00 to C$21.00 in a research report on Wednesday, April 17th. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of C$19.94.

Ivanhoe Mines Stock Performance

TSE IVN opened at C$19.22 on Thursday. The company has a market capitalization of C$24.41 billion, a price-to-earnings ratio of 53.39 and a beta of 2.00. Ivanhoe Mines has a twelve month low of C$9.89 and a twelve month high of C$19.99. The stock has a fifty day simple moving average of C$16.19 and a 200 day simple moving average of C$13.65. The company has a quick ratio of 20.86, a current ratio of 3.28 and a debt-to-equity ratio of 18.08.

Insider Buying and Selling

In related news, Senior Officer Mary Vincelli sold 5,000 shares of the company’s stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of C$15.47, for a total value of C$77,350.00. In related news, Senior Officer Mary Vincelli sold 5,000 shares of the company’s stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of C$15.47, for a total value of C$77,350.00. Also, Director Setha Patricia Makhesha sold 3,295 shares of the stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of C$14.30, for a total transaction of C$47,102.03. 50.86% of the stock is currently owned by company insiders.

About Ivanhoe Mines

Ivanhoe Mines Ltd. engages in the mining, development, and exploration of minerals and precious metals 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.