Raymond James Equities 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 note issued to investors on Monday, April 22nd. Raymond James analyst F. Hamed now expects that the company will earn $0.01 per share for the quarter, down from their previous 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 brokerages have also weighed in on IVN. TD Securities upped their price target on shares of Ivanhoe Mines from C$17.00 to C$17.50 and gave the stock a “buy” rating in a research note on Wednesday, February 28th. Canaccord Genuity Group upped their target price on Ivanhoe Mines from C$16.00 to C$21.00 in a research report on Wednesday, April 17th. Bank of America lifted their price target on Ivanhoe Mines from C$15.50 to C$21.00 in a research report on Tuesday, April 9th. Finally, Eight Capital upped their price objective on Ivanhoe Mines from C$19.00 to C$30.00 in a report on Monday. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of C$19.94.

Ivanhoe Mines Price Performance

Shares of IVN opened at C$18.33 on Wednesday. The firm has a market capitalization of C$23.28 billion, a price-to-earnings ratio of 50.92 and a beta of 2.00. 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 stock’s fifty day moving average is C$16.09 and its 200-day moving average is C$13.61. Ivanhoe Mines has a one year low of C$9.89 and a one year high of C$19.99.

Ivanhoe Mines (TSE:IVN) last posted its 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).

Insider Activity

In related news, Director Setha Patricia Makhesha sold 3,295 shares of the stock in a transaction on Thursday, February 29th. The stock was sold at an average price of C$14.30, for a total value of C$47,102.03. In related news, Director Setha Patricia Makhesha sold 3,295 shares of the firm’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 Ivanhoe Mines 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. 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.