Raymond James Increases Earnings Estimates for Ivanhoe Mines

Ivanhoe Mines Ltd. (TSE:IVN - Free Report) - Equities researchers at Raymond James increased their FY2024 earnings estimates for shares of Ivanhoe Mines in a research note issued on Wednesday, January 8th. Raymond James analyst F. Hamed now anticipates that the company will earn $0.24 per share for the year, up from their prior 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.

A number of other analysts have also weighed in on the stock. Scotiabank lowered their price objective 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. TD Securities cut their price objective on shares of Ivanhoe Mines from C$25.00 to C$24.00 and set a "buy" rating on the stock in a report on Thursday. Eight investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, Ivanhoe Mines currently has a consensus rating of "Buy" and a consensus price target of C$24.00.

Ivanhoe Mines Stock Down 3.7 %

Shares of IVN stock traded down C$0.64 during mid-day trading on Monday, hitting C$16.63. The stock had a trading volume of 474,027 shares, compared to its average volume of 1,138,711. Ivanhoe Mines has a 12-month low of C$12.94 and a 12-month high of C$21.32. The company has a debt-to-equity ratio of 4.24, a current ratio of 1.17 and a quick ratio of 20.86. The firm's 50-day moving average is C$18.21 and its two-hundred day moving average is C$18.19. The firm has a market capitalization of C$22.45 billion, a P/E ratio of 103.94 and a beta of 1.94.

Insiders Place Their Bets

In other Ivanhoe Mines news, Senior Officer Chao (Peter) Zhou sold 4,800 shares of the company's stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of C$19.00, for a total value 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 shares were sold at an average price of C$19.00, for a total transaction of C$1,145,472.00. Over the last 90 days, insiders sold 68,088 shares of company stock valued at $1,292,379. 44.96% of the stock is currently owned by corporate 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.