Ivanhoe Mines Ltd. to Post Q1 2024 Earnings of ($0.03) Per Share, Raymond James Forecasts (TSE:IVN)

Ivanhoe Mines Ltd. (TSE:IVN) – Raymond James lowered their Q1 2024 earnings estimates for shares of Ivanhoe Mines in a note issued to investors on Monday, April 22nd. Raymond James analyst F. Hamed now anticipates that the company will post earnings per share of ($0.03) for the quarter, down from their previous 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.

IVN has been the topic of several other reports. Canaccord Genuity Group raised their target price on shares of Ivanhoe Mines from C$16.00 to C$21.00 in a report on Wednesday, April 17th. TD Securities raised their price target on shares of 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. Eight Capital raised their price target on shares of Ivanhoe Mines from C$19.00 to C$30.00 in a research note on Monday. Finally, Bank of America raised their price target on shares of Ivanhoe Mines from C$15.50 to C$21.00 in a research note on Tuesday, April 9th. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat, Ivanhoe Mines has an average rating of “Buy” and a consensus price target of C$19.94.

Ivanhoe Mines Stock Performance

Shares of IVN stock opened at C$18.33 on Thursday. The company has a debt-to-equity ratio of 18.08, a quick ratio of 20.86 and a current ratio of 3.28. The company has a market capitalization of C$23.28 billion, a P/E ratio of 50.92 and a beta of 2.00. The company’s 50 day moving average price is C$16.09 and its two-hundred day moving average price is C$13.61. Ivanhoe Mines has a 52 week low of C$9.89 and a 52 week high of C$19.99.

Ivanhoe Mines (TSE:IVN) last announced its earnings results 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).

Insider Activity at Ivanhoe Mines

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 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. Also, Director Setha Patricia Makhesha sold 3,295 shares of Ivanhoe Mines 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. 50.86% of the stock is 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.