Raymond James Increases Ivanhoe Mines (TSE:IVN) Price Target to C$21.00

Ivanhoe Mines (TSE:IVN) had its price target increased by research analysts at Raymond James from C$19.00 to C$21.00 in a research report issued on Tuesday, BayStreet.CA reports. Raymond James’ price target points to a potential upside of 14.57% from the stock’s current price. Raymond James also issued estimates for Ivanhoe Mines’ Q2 2024 earnings at $0.01 EPS and FY2024 earnings at $0.15 EPS.

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

Ivanhoe Mines Trading Up 1.0 %

Shares of IVN stock opened at C$18.33 on Tuesday. The stock’s fifty day moving average is C$16.09 and its two-hundred day moving average is 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 P/E ratio of 50.92 and a beta of 2.00. Ivanhoe Mines has a fifty-two week low of C$9.89 and a fifty-two week high of C$19.99.

Ivanhoe Mines (TSE:IVN) last announced its quarterly earnings data 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). Research analysts expect that Ivanhoe Mines will post 0.5149972 earnings per share for the current fiscal year.

Insider Transactions at Ivanhoe Mines

In other news, Director Setha Patricia Makhesha sold 3,295 shares of the company’s 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. In other news, Senior Officer Mary Vincelli sold 5,000 shares of the firm’s stock in a transaction on Wednesday, March 13th. The stock was 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 the firm’s stock in a transaction 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. Company insiders own 50.86% of the company’s stock.

Ivanhoe Mines Company Profile

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.