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

Ivanhoe Mines Ltd. (TSE:IVN) – Analysts at Raymond James reduced their Q2 2024 earnings estimates for shares of Ivanhoe Mines in a research report issued to clients and investors on Monday, April 22nd. Raymond James analyst F. Hamed now expects that the company will post earnings per share of $0.01 for the quarter, down from their prior estimate 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.

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

Ivanhoe Mines Trading Up 4.9 %

Shares of 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. Ivanhoe Mines has a 1 year low of C$9.89 and a 1 year high of C$19.99. The company has a 50 day simple moving average of C$16.19 and a two-hundred day simple moving average of C$13.65. The firm has a market cap of C$24.41 billion, a P/E ratio of 53.39 and a beta of 2.00.

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

Insider Activity at Ivanhoe Mines

In related news, Senior Officer Mary Vincelli sold 5,000 shares of Ivanhoe Mines stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of C$15.47, for a total value of C$77,350.00. In other Ivanhoe Mines news, 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. Also, Senior Officer Mary Vincelli sold 5,000 shares of the stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of C$15.47, for a total transaction of C$77,350.00. 50.86% of the stock is currently 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.