Raymond James Research Analysts Reduce Earnings Estimates for Ivanhoe Mines Ltd. (TSE:IVN)

Ivanhoe Mines Ltd. (TSE:IVN) – Stock analysts at Raymond James lowered their Q2 2024 earnings estimates for Ivanhoe Mines in a report issued on Monday, April 22nd. Raymond James analyst F. Hamed now anticipates that the company will post earnings per share of $0.01 for the quarter, down from their prior forecast of $0.04. The consensus estimate for Ivanhoe Mines’ current full-year earnings is $0.51 per share. Raymond James also issued estimates for Ivanhoe Mines’ FY2024 earnings at $0.15 EPS.

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

Several other brokerages have also commented on IVN. Eight Capital lifted their price objective on shares of Ivanhoe Mines from C$19.00 to C$30.00 in a research report on Monday. TD Securities boosted 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. Canaccord Genuity Group boosted their price target on shares of Ivanhoe Mines from C$16.00 to C$21.00 in a research report on Wednesday, April 17th. Finally, Bank of America boosted their price target on shares of Ivanhoe Mines from C$15.50 to C$21.00 in a research report on Tuesday, April 9th. Five investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of C$19.94.

Ivanhoe Mines Stock Up 4.9 %

IVN opened at C$19.22 on Wednesday. The company has a debt-to-equity ratio of 18.08, a current ratio of 3.28 and a quick ratio of 20.86. The company’s 50-day moving average is C$16.19 and its 200 day moving average is C$13.65. Ivanhoe Mines has a fifty-two week low of C$9.89 and a fifty-two week high of C$19.99. The firm has a market capitalization of C$24.41 billion, a P/E ratio of 53.39 and a beta of 2.00.

Insider Activity at Ivanhoe Mines

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