FY2024 EPS Estimates for Ivanhoe Mines Boosted by Analyst

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

IVN has been the subject of a number of other research reports. Scotiabank decreased their price target on shares of 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. TD Securities decreased their target price on shares of Ivanhoe Mines from C$25.00 to C$24.00 and set a “buy” rating for the company in a research note on Thursday, January 9th. Eight equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Ivanhoe Mines currently has a consensus rating of “Buy” and an average target price of C$24.00.

View Our Latest Analysis on Ivanhoe Mines

Ivanhoe Mines Price Performance

Shares of TSE IVN opened at C$16.67 on Monday. The stock has a market cap of C$22.50 billion, a P/E ratio of 104.19 and a beta of 1.94. Ivanhoe Mines has a twelve month low of C$12.94 and a twelve month high of C$21.32. The stock has a 50 day moving average of C$18.17 and a two-hundred day moving average of C$18.18. The company has a current ratio of 1.17, a quick ratio of 20.86 and a debt-to-equity ratio of 4.24.

Insider Transactions at Ivanhoe Mines

In related news, Senior Officer Chao (Peter) Zhou sold 4,800 shares of the firm’s stock in a transaction that occurred 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 Ivanhoe Mines stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of C$19.00, for a total transaction of C$1,145,472.00. Insiders sold a total of 68,088 shares of company stock valued at $1,292,379 over the last three months. 44.96% of the stock is currently owned by insiders.

Ivanhoe Mines Company Profile

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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.

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