Ivanhoe Mines FY2029 EPS Forecast Lowered by Stifel Canada

Key Points

• Stifel Canada has lowered its FY2029 EPS forecast for Ivanhoe Mines to $0.63 from $0.66, while maintaining a "Strong-Buy" rating on the stock.
• Despite the EPS downgrade, multiple brokerages have issued "strong-buy" ratings for Ivanhoe Mines, contributing to an overall average rating of "Strong Buy".
• Shares of Ivanhoe Mines experienced a 4.3% decline, with the current trading price at $9.87 and a market capitalization of $13.36 billion.

Ivanhoe Mines Ltd. (OTCMKTS:IVPAF - Free Report) - Investment analysts at Stifel Canada dropped their FY2029 EPS estimates for shares of Ivanhoe Mines in a report released on Tuesday, September 23rd. Stifel Canada analyst R. Profiti now forecasts that the company will post earnings of $0.63 per share for the year, down from their prior estimate of $0.66. Stifel Canada has a "Strong-Buy" rating on the stock.

A number of other brokerages have also commented on IVPAF. TD Securities upgraded shares of Ivanhoe Mines to a "strong-buy" rating in a research note on Tuesday, June 3rd. Raymond James Financial upgraded shares of Ivanhoe Mines to a "moderate buy" rating in a report on Monday, June 30th. Citigroup upgraded shares of Ivanhoe Mines to a "strong-buy" rating in a report on Monday, June 16th. Royal Bank Of Canada upgraded shares of Ivanhoe Mines to a "moderate buy" rating in a report on Tuesday, June 17th. Finally, UBS Group upgraded shares of Ivanhoe Mines to a "strong-buy" rating in a report on Thursday, June 12th. Five analysts have rated the stock with a Strong Buy rating and one has assigned a Hold rating to the company's stock. According to data from MarketBeat, Ivanhoe Mines presently has an average rating of "Strong Buy".

Ivanhoe Mines Trading Down 4.3%

Shares of IVPAF stock opened at $9.87 on Friday. The firm has a market capitalization of $13.36 billion and a PE ratio of 19.95. The firm has a fifty day simple moving average of $8.65 and a two-hundred day simple moving average of $8.70. Ivanhoe Mines has a 12 month low of $6.50 and a 12 month high of $15.53.

Ivanhoe Mines (OTCMKTS:IVPAF - Get Free Report) last announced its quarterly earnings results on Wednesday, July 30th. The company reported $0.03 EPS for the quarter, missing analysts' consensus estimates of $0.04 by ($0.01). The business had revenue of $96.76 million for the quarter, compared to analyst estimates of $101.84 million.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.