Ivanhoe Mines Ltd. Forecasted to Earn Q3 2024 Earnings of $0.07 Per Share (TSE:IVN)

Ivanhoe Mines Ltd. (TSE:IVN) – Analysts at Raymond James lifted their Q3 2024 EPS estimates for Ivanhoe Mines in a research report issued on Wednesday, May 22nd. Raymond James analyst F. Hamed now anticipates that the company will post earnings of $0.07 per share for the quarter, up from their prior estimate of $0.05. Raymond James has a “Outperform” rating and a $24.00 price objective on the stock. The consensus estimate for Ivanhoe Mines’ current full-year earnings is $0.52 per share.

Several other equities analysts have also recently weighed in on IVN. Royal Bank of Canada raised their price target on shares of Ivanhoe Mines from C$19.00 to C$22.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 1st. Scotiabank raised their target price on shares of Ivanhoe Mines from C$18.00 to C$19.00 and gave the company an “outperform” rating in a research report on Wednesday, May 1st. Bank of America boosted their price target on shares of Ivanhoe Mines from C$15.50 to C$21.00 in a research report on Tuesday, April 9th. BMO Capital Markets raised their price objective on Ivanhoe Mines from C$18.00 to C$22.00 and gave the company an “outperform” rating in a report on Wednesday, May 1st. Finally, Eight Capital upped their target price on Ivanhoe Mines from C$19.00 to C$30.00 in a report on Monday, April 22nd. Eight analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of C$22.72.

Ivanhoe Mines Stock Up 2.5 %

TSE:IVN opened at C$19.39 on Thursday. The stock has a 50-day simple moving average of C$18.29 and a 200 day simple moving average of C$14.91. Ivanhoe Mines has a 52-week low of C$9.89 and a 52-week high of C$21.32. The company has a market cap of C$24.63 billion, a PE ratio of 102.05 and a beta of 1.98. The company has a debt-to-equity ratio of 18.77, a quick ratio of 20.86 and a current ratio of 0.42.

Ivanhoe Mines (TSE:IVN) last announced its earnings results on Tuesday, April 30th. The company reported C($0.07) earnings per share for the quarter, missing analysts’ consensus estimates of C($0.01) by C($0.06).

Insider Activity

In other Ivanhoe Mines news, Senior Officer Mary Vincelli sold 5,000 shares of Ivanhoe Mines 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. In other Ivanhoe Mines news, Senior Officer Mary Vincelli sold 5,000 shares of the firm’s stock in a transaction that occurred 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 business’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. Insiders own 50.84% 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.