FY2024 EPS Estimates for Ivanhoe Mines Decreased by Analyst

Ivanhoe Mines Ltd. (TSE:IVN) – Scotiabank cut their FY2024 earnings per share (EPS) estimates for Ivanhoe Mines in a research note issued to investors on Wednesday, January 8th. Scotiabank analyst O. Wowkodaw now forecasts that the company will post earnings of $0.34 per share for the year, down from their previous estimate of $0.35. Scotiabank has a “Outperform” rating and a $20.00 price objective on the stock. The consensus estimate for Ivanhoe Mines’ current full-year earnings is $1.01 per share. Scotiabank also issued estimates for Ivanhoe Mines’ FY2025 earnings at $0.63 EPS.

A number of other equities analysts have also recently issued reports on IVN. 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 research report on Thursday. Raymond James cut their price target on Ivanhoe Mines from C$25.00 to C$24.00 and set an “outperform” rating on the stock in a report on Thursday. Eight analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company has an average rating of “Buy” and an average price target of C$24.00.

Ivanhoe Mines Stock Up 1.6 %

Shares of TSE IVN opened at C$17.19 on Thursday. The company has a quick ratio of 20.86, a current ratio of 1.17 and a debt-to-equity ratio of 4.24. The firm has a market cap of C$23.21 billion, a PE ratio of 107.44 and a beta of 1.94. The company’s fifty day simple moving average is C$18.26 and its 200 day simple moving average is C$18.18. Ivanhoe Mines has a 12-month low of C$12.94 and a 12-month high of C$21.32.

Insider Transactions at Ivanhoe Mines

In other 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 Martie Cloete sold 2,800 shares of Ivanhoe Mines stock in a transaction on Friday, November 8th. The stock was sold at an average price of C$18.56, for a total value of C$51,968.00. Insiders sold a total of 68,088 shares of company stock valued at $1,292,379 over the last ninety days. 44.96% 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.