FY2024 EPS Estimates for Ivanhoe Mines Lowered by Scotiabank

Ivanhoe Mines Ltd. (TSE:IVN) – Analysts at Scotiabank reduced their FY2024 earnings estimates for Ivanhoe Mines in a research note issued to investors on Wednesday, January 8th. Scotiabank analyst O. Wowkodaw now expects that the company will earn $0.34 per share for the year, down from their prior estimate of $0.35. Scotiabank currently has a “Outperform” rating and a $20.00 target price 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.

Several other research analysts also recently weighed in on IVN. Raymond James lowered their target price on Ivanhoe Mines from C$25.00 to C$24.00 and set an “outperform” rating on the stock in a research note on Thursday. TD Securities decreased their target price 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. Eight investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of C$24.00.

Ivanhoe Mines Stock Performance

Shares of IVN stock opened at C$17.27 on Thursday. The stock’s 50-day moving average price is C$18.21 and its 200 day moving average price is C$18.18. 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 stock has a market capitalization of C$23.31 billion, a PE ratio of 107.94 and a beta of 1.94. Ivanhoe Mines has a 52-week low of C$12.94 and a 52-week high of C$21.32.

Insiders Place Their Bets

In other news, Director Martie Cloete sold 2,800 shares of the company’s 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. Also, Senior Officer Chao (Peter) Zhou sold 4,800 shares of the stock in a transaction on Monday, November 25th. The shares were sold at an average price of C$19.00, for a total value of C$91,200.00. Over the last quarter, insiders sold 68,088 shares of company stock worth $1,292,379. Insiders own 44.96% of the company’s stock.

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.