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

Ivanhoe Mines Ltd. (TSE:IVN) – Investment analysts at Raymond James lowered their Q1 2024 EPS estimates for shares of Ivanhoe Mines in a research note issued on Monday, April 22nd. Raymond James analyst F. Hamed now anticipates that the company will post earnings per share of ($0.03) for the quarter, down from their previous forecast 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 posted its quarterly earnings results on Monday, February 26th. The company reported C$0.03 EPS for the quarter, missing the consensus estimate of C$0.08 by C($0.05).

Several other research analysts have also commented on IVN. Eight Capital lifted their price target on shares of Ivanhoe Mines from C$19.00 to C$30.00 in a report on Monday. TD Securities boosted 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 research note on Wednesday, February 28th. Canaccord Genuity Group boosted their target price on shares of Ivanhoe Mines from C$16.00 to C$21.00 in a research note on Wednesday, April 17th. Finally, Bank of America boosted their target price on shares of Ivanhoe Mines from C$15.50 to C$21.00 in a research note on Tuesday, April 9th. Five research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Ivanhoe Mines presently has an average rating of “Buy” and an average price target of C$19.94.

Ivanhoe Mines Trading Up 1.0 %

TSE IVN opened at C$18.33 on Thursday. Ivanhoe Mines has a one year low of C$9.89 and a one year high of C$19.99. The company has a 50-day simple moving average of C$16.09 and a 200-day simple moving average of C$13.61. The company has a debt-to-equity ratio of 18.08, a quick ratio of 20.86 and a current ratio of 3.28. The firm has a market capitalization of C$23.28 billion, a PE ratio of 50.92 and a beta of 2.00.

Insider Buying and Selling

In related news, Senior Officer Mary Vincelli sold 5,000 shares of the business’s stock in a transaction that occurred on 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 business’s stock in a transaction that occurred on 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 Ivanhoe Mines stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of C$14.30, for a total transaction of C$47,102.03. Insiders own 50.86% of the company’s stock.

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.