Ivanhoe Mines FY2024 EPS Estimate Lifted by Raymond James

Ivanhoe Mines Ltd. (TSE:IVN) – Analysts at Raymond James upped their FY2024 earnings estimates for shares of Ivanhoe Mines in a research note issued on Wednesday, January 8th. Raymond James analyst F. Hamed now forecasts that the company will post earnings of $0.24 per share for the year, up from their previous forecast of $0.22. Raymond James currently has a “Outperform” rating and a $24.00 price target on the stock. The consensus estimate for Ivanhoe Mines’ current full-year earnings is $1.01 per share.

Several other brokerages also recently weighed in on IVN. Scotiabank dropped their target price on Ivanhoe Mines from C$21.00 to C$20.00 and set an “outperform” rating on the stock in a research note on Thursday, January 9th. TD Securities dropped their price target on Ivanhoe Mines from C$25.00 to C$24.00 and set a “buy” rating on the stock in a research note on Thursday, January 9th. Eight research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of C$24.00.

Ivanhoe Mines Price Performance

TSE IVN opened at C$16.69 on Monday. The firm’s fifty day simple moving average is C$18.13 and its two-hundred day simple moving average is C$18.17. The firm has a market capitalization of C$22.53 billion, a P/E ratio of 104.31 and a beta of 1.94. The company has a current ratio of 1.17, a quick ratio of 20.86 and a debt-to-equity ratio of 4.24. Ivanhoe Mines has a 12-month low of C$12.94 and a 12-month high of C$21.32.

Insider Buying and Selling

In related news, Senior Officer Chao (Peter) Zhou sold 4,800 shares of the firm’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of C$19.00, for a total transaction of C$91,200.00. Also, Director Jinghe Chen sold 60,288 shares of the business’s stock in a transaction on Thursday, November 21st. The shares were sold at an average price of C$19.00, for a total transaction of C$1,145,472.00. Insiders sold 68,088 shares of company stock valued at $1,292,379 over the last quarter. 44.96% of the stock is currently owned by company insiders.

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.