Ivanhoe Mines (TSE:IVN) PT Raised to C$19.00

Ivanhoe Mines (TSE:IVNGet Free Report) had its target price upped by equities research analysts at Raymond James from C$18.00 to C$19.00 in a report issued on Wednesday, BayStreet.CA reports. Raymond James’ price objective would suggest a potential upside of 19.05% from the company’s current price. Raymond James also issued estimates for Ivanhoe Mines’ Q1 2024 earnings at $0.03 EPS, Q2 2024 earnings at $0.04 EPS, Q3 2024 earnings at $0.04 EPS, Q4 2024 earnings at $0.08 EPS and FY2024 earnings at $0.19 EPS.

Other analysts have also issued research reports about the stock. TD Securities boosted their target price on shares of Ivanhoe Mines from C$17.00 to C$17.50 and gave the company a “buy” rating in a research note on Wednesday, February 28th. BMO Capital Markets upped their price objective on shares of Ivanhoe Mines from C$17.00 to C$18.00 in a report on Wednesday, November 29th. Finally, Canaccord Genuity Group reduced their price objective on shares of Ivanhoe Mines from C$6.50 to C$6.00 and set a “buy” rating for the company in a research note on Friday, January 12th. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of C$15.79.

View Our Latest Research Report on IVN

Ivanhoe Mines Stock Performance

Shares of IVN opened at C$15.96 on Wednesday. The company has a quick ratio of 20.86, a current ratio of 3.28 and a debt-to-equity ratio of 18.08. The company has a 50-day simple moving average of C$14.41 and a 200-day simple moving average of C$12.63. Ivanhoe Mines has a 52-week low of C$9.89 and a 52-week high of C$16.49. The company has a market capitalization of C$20.27 billion, a PE ratio of 45.60 and a beta of 2.00.

Ivanhoe Mines (TSE:IVNGet Free Report) last announced its quarterly earnings results on Monday, February 26th. The company reported C$0.03 earnings per share for the quarter, missing analysts’ consensus estimates of C$0.08 by C($0.05). Equities research analysts predict that Ivanhoe Mines will post 0.5283019 earnings per share for the current fiscal year.

Insider Transactions at Ivanhoe Mines

In other Ivanhoe Mines news, Senior Officer Stephen Ralph Amos sold 2,489 shares of Ivanhoe Mines stock in a transaction on Saturday, January 20th. The stock was sold at an average price of C$13.24, for a total transaction of C$32,941.92. In related news, Senior Officer Stephen Ralph Amos sold 2,489 shares of Ivanhoe Mines stock in a transaction dated Saturday, January 20th. The stock was sold at an average price of C$13.24, for a total value of C$32,941.92. Also, Senior Officer Mary Vincelli sold 5,000 shares of Ivanhoe Mines 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. Over the last quarter, insiders have sold 10,784 shares of company stock worth $157,394. Insiders own 50.86% of the company’s stock.

About Ivanhoe Mines

(Get Free Report)

Ivanhoe Mines Ltd. engages in the mining, development, and exploration of minerals and precious metals located 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.

Further Reading

Analyst Recommendations for Ivanhoe Mines (TSE:IVN)

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