Ivanhoe Mines FY2024 EPS Estimate Boosted by Raymond James

Ivanhoe Mines Ltd. (TSE:IVN) – Raymond James increased their FY2024 EPS estimates for Ivanhoe Mines in a research note issued on Wednesday, January 8th. Raymond James analyst F. Hamed now forecasts that the company will post earnings per share of $0.24 for the year, up from their prior estimate 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.

Other analysts have also recently issued reports about the stock. TD Securities decreased their target price on shares of Ivanhoe Mines from C$25.00 to C$24.00 and set a “buy” rating on the stock in a research report on Thursday, January 9th. Scotiabank lowered their price objective on Ivanhoe Mines from C$21.00 to C$20.00 and set an “outperform” rating for the company in a research note on Thursday, January 9th. Eight investment analysts have rated the stock with a buy rating, According to data from MarketBeat, Ivanhoe Mines has an average rating of “Buy” and an average target price of C$24.00.

Ivanhoe Mines Price Performance

IVN stock opened at C$16.69 on Monday. Ivanhoe Mines has a 52 week low of C$12.94 and a 52 week high of C$21.32. 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 fifty day simple moving average of C$18.13 and a two-hundred day simple moving average of C$18.17. The company has a quick ratio of 20.86, a current ratio of 1.17 and a debt-to-equity ratio of 4.24.

Insider Buying and Selling

In other Ivanhoe Mines news, Senior Officer Chao (Peter) Zhou sold 4,800 shares of the business’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of C$19.00, for a total value of C$91,200.00. Also, Director Martie Cloete sold 2,800 shares of the firm’s stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of C$18.56, for a total transaction of C$51,968.00. In the last three months, insiders sold 68,088 shares of company stock valued at $1,292,379. Insiders own 44.96% 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.