Q2 2024 EPS Estimates for Ivanhoe Mines Ltd. Lowered by Analyst (TSE:IVN)

Ivanhoe Mines Ltd. (TSE:IVN) – Investment analysts at Raymond James lowered their Q2 2024 EPS estimates for 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 prior forecast 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 research firms have also weighed in on IVN. TD Securities boosted their price objective on 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 boosted their price target on shares of Ivanhoe Mines from C$16.00 to C$21.00 in a research report on Wednesday, April 17th. Eight Capital raised their price objective on shares of Ivanhoe Mines from C$19.00 to C$30.00 in a research report on Monday. Finally, Bank of America boosted their target price on shares of Ivanhoe Mines from C$15.50 to C$21.00 in a report on Tuesday, April 9th. Five investment analysts have rated the stock with a buy rating, According to MarketBeat, Ivanhoe Mines presently has an average rating of “Buy” and a consensus price target of C$19.94.

Ivanhoe Mines Price Performance

IVN stock opened at C$18.33 on Wednesday. Ivanhoe Mines has a 1 year low of C$9.89 and a 1 year high of C$19.99. The company has a debt-to-equity ratio of 18.08, a current ratio of 3.28 and a quick ratio of 20.86. The firm has a market capitalization of C$23.28 billion, a PE ratio of 50.92 and a beta of 2.00. The business has a 50 day simple moving average of C$16.09 and a 200-day simple moving average of C$13.61.

Ivanhoe Mines (TSE:IVN) last released its quarterly earnings data on Monday, February 26th. The company reported C$0.03 EPS for the quarter, missing analysts’ consensus estimates of C$0.08 by C($0.05).

Insider Buying and Selling at Ivanhoe Mines

In related 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 value of C$47,102.03. In related news, Senior Officer Mary Vincelli sold 5,000 shares of the company’s stock in a transaction dated 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 that occurred 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 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.