Raymond James Comments on Ivanhoe Mines Ltd.’s Q1 2024 Earnings (TSE:IVN)

Ivanhoe Mines Ltd. (TSE:IVN) – Investment analysts at Raymond James reduced their Q1 2024 EPS 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 anticipates that the company will post earnings of ($0.03) per share for the quarter, down from their prior 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 released its earnings results on Monday, February 26th. The company reported C$0.03 earnings per share for the quarter, missing the consensus estimate of C$0.08 by C($0.05).

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

Ivanhoe Mines Stock Up 4.9 %

TSE:IVN opened at C$19.22 on Thursday. The company has a market cap of C$24.41 billion, a PE 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 company has a current ratio of 3.28, a quick ratio of 20.86 and a debt-to-equity ratio of 18.08. The company’s 50 day moving average is C$16.19 and its two-hundred day moving average is C$13.65.

Insider Activity at Ivanhoe Mines

In related news, Senior Officer Mary Vincelli sold 5,000 shares of the business’s stock in a transaction 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 other Ivanhoe Mines news, Senior Officer Mary Vincelli sold 5,000 shares of the company’s stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of C$15.47, for a total transaction of C$77,350.00. Also, Director Setha Patricia Makhesha sold 3,295 shares of the company’s stock in a transaction 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. Company 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.