Raymond James Equities Analysts Lower Earnings Estimates for Ivanhoe Mines Ltd. (TSE:IVN)

Ivanhoe Mines Ltd. (TSE:IVN - Free Report) - Analysts at Raymond James lowered their Q2 2024 earnings per share estimates for shares of Ivanhoe Mines in a research report issued to clients and investors on Monday, April 22nd. Raymond James analyst F. Hamed now forecasts that the company will post earnings per share of $0.01 for the quarter, down from their previous estimate of $0.04. The consensus estimate for Ivanhoe Mines' current full-year earnings is $0.51 per share. Raymond James also issued estimates for Ivanhoe Mines' FY2024 earnings at $0.15 EPS.

Ivanhoe Mines (TSE:IVN - Get Free Report) last announced its quarterly earnings data on Monday, February 26th. The company reported C$0.03 earnings per share for the quarter, missing the consensus estimate of C$0.08 by C($0.05).

A number of other equities analysts have also recently commented on IVN. Canaccord Genuity Group lifted their price target on Ivanhoe Mines from C$16.00 to C$21.00 in a report on Wednesday, April 17th. Bank of America lifted their price target on Ivanhoe Mines from C$15.50 to C$21.00 in a report on Tuesday, April 9th. TD Securities lifted their price target on Ivanhoe Mines from C$17.00 to C$17.50 and gave the stock a "buy" rating in a report on Wednesday, February 28th. Finally, Eight Capital lifted their price target on Ivanhoe Mines from C$19.00 to C$30.00 in a report on Monday. Five research analysts have rated the stock with a buy rating, According to MarketBeat, Ivanhoe Mines presently has an average rating of "Buy" and an average target price of C$19.94.

Ivanhoe Mines Stock Up 1.0 %

Shares of TSE IVN traded up C$0.19 during mid-day trading on Wednesday, hitting C$18.33. The company had a trading volume of 1,895,787 shares, compared to its average volume of 2,124,677. The company has a market capitalization of C$23.28 billion, a PE ratio of 51.00 and a beta of 2.00. The firm has a 50-day simple moving average of C$16.01 and a two-hundred day simple moving average of C$13.58. The company has a current ratio of 3.28, a quick ratio of 20.86 and a debt-to-equity ratio of 18.08. Ivanhoe Mines has a one year low of C$9.89 and a one year high of C$19.99.

Insider Transactions at Ivanhoe Mines

In other Ivanhoe Mines news, Director Setha Patricia Makhesha sold 3,295 shares of the business's stock in a transaction that occurred 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, Senior Officer Mary Vincelli sold 5,000 shares of the stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of C$15.47, for a total value of C$77,350.00. Also, Director Setha Patricia Makhesha sold 3,295 shares of the stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of C$14.30, for a total value of C$47,102.03. Corporate insiders own 50.86% of the company's stock.

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.