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

Ivanhoe Mines Ltd. (TSE:IVN) – Equities research analysts at Raymond James cut their Q1 2024 earnings per share estimates for shares of Ivanhoe Mines in a report released on Monday, April 22nd. Raymond James analyst F. Hamed now anticipates that the company will earn ($0.03) per share for the quarter, down from their prior estimate 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 issued its quarterly earnings data 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).

Other analysts also recently issued reports about the company. Bank of America increased their price objective on Ivanhoe Mines from C$15.50 to C$21.00 in a research note on Tuesday, April 9th. TD Securities upped their target price on Ivanhoe Mines from C$17.00 to C$17.50 and gave the company a “buy” rating in a report on Wednesday, February 28th. Eight Capital upped their target price on Ivanhoe Mines from C$19.00 to C$30.00 in a report on Monday, April 22nd. Finally, Canaccord Genuity Group upped their target price on Ivanhoe Mines from C$16.00 to C$21.00 in a report on Wednesday, April 17th. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of C$19.94.

Ivanhoe Mines Stock Performance

Shares of Ivanhoe Mines stock opened at C$20.36 on Thursday. The company has a market cap of C$25.86 billion, a PE ratio of 56.56 and a beta of 2.00. Ivanhoe Mines has a 52 week low of C$9.89 and a 52 week high of C$20.45. The business has a 50 day moving average price of C$16.31 and a 200-day moving average price of C$13.71. The company has a quick ratio of 20.86, a current ratio of 3.28 and a debt-to-equity ratio of 18.08.

Insider Buying and Selling at Ivanhoe Mines

In other Ivanhoe Mines 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 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 stock was sold at an average price of C$14.30, for a total value of C$47,102.03. 50.86% of the stock is owned by corporate insiders.

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.