Raymond James Raises Ivanhoe Mines (TSE:IVN) Price Target to C$21.00

Ivanhoe Mines (TSE:IVN) had its price target raised by Raymond James from C$19.00 to C$21.00 in a report published on Tuesday, BayStreet.CA reports. Raymond James also issued estimates for Ivanhoe Mines’ Q1 2024 earnings at ($0.03) EPS, Q2 2024 earnings at $0.01 EPS, Q3 2024 earnings at $0.05 EPS, Q4 2024 earnings at $0.13 EPS and FY2024 earnings at $0.15 EPS.

A number of other equities analysts have also weighed in on IVN. Canaccord Genuity Group lifted their price target on shares of Ivanhoe Mines from C$16.00 to C$21.00 in a report on Wednesday, April 17th. Eight Capital raised their target price on shares of Ivanhoe Mines from C$19.00 to C$30.00 in a research note on Monday. Bank of America raised their target price on shares of Ivanhoe Mines from C$15.50 to C$21.00 in a research note on Tuesday, April 9th. Finally, TD Securities raised 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. Five investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the company currently has an average rating of Buy and a consensus target price of C$19.94.

Ivanhoe Mines Stock Up 4.9 %

Shares of IVN opened at C$19.22 on Tuesday. The firm has a market cap of C$24.41 billion, a PE ratio of 53.39 and a beta of 2.00. The company’s fifty day moving average is C$16.19 and its two-hundred day moving average is C$13.65. Ivanhoe Mines has a fifty-two week low of C$9.89 and a fifty-two week high of C$19.99. The company has a quick ratio of 20.86, a current ratio of 3.28 and a debt-to-equity ratio of 18.08.

Ivanhoe Mines (TSE:IVN) 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). Analysts forecast that Ivanhoe Mines will post 0.5149972 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Setha Patricia Makhesha sold 3,295 shares of Ivanhoe Mines stock in a transaction on Thursday, February 29th. The shares were sold at an average price of C$14.30, for a total transaction of C$47,102.03. In related news, Director Setha Patricia Makhesha sold 3,295 shares of Ivanhoe Mines stock in a transaction on Thursday, February 29th. The shares were sold at an average price of C$14.30, for a total transaction of C$47,102.03. Also, Senior Officer Mary Vincelli sold 5,000 shares of Ivanhoe Mines stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of C$15.47, for a total transaction of C$77,350.00. 50.86% of the stock is currently owned by 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.