Raymond James Raises Ivanhoe Mines (TSE:IVN) Price Target to C$24.00

Ivanhoe Mines (TSE:IVN) had its price target boosted by Raymond James from C$21.00 to C$24.00 in a research note published on Thursday, BayStreet.CA reports. They currently have an outperform rating on the stock. Raymond James also issued estimates for Ivanhoe Mines’ Q2 2024 earnings at $0.03 EPS, Q3 2024 earnings at $0.07 EPS, Q4 2024 earnings at $0.11 EPS, FY2024 earnings at $0.17 EPS, Q1 2025 earnings at $0.10 EPS, Q2 2025 earnings at $0.11 EPS, Q3 2025 earnings at $0.12 EPS, Q4 2025 earnings at $0.14 EPS and FY2025 earnings at $0.48 EPS.

A number of other equities analysts also recently issued reports on IVN. Canaccord Genuity Group increased their price objective on shares of Ivanhoe Mines from C$22.00 to C$24.00 and gave the company a buy rating in a research note on Monday, May 13th. BMO Capital Markets boosted their price target on Ivanhoe Mines from C$18.00 to C$22.00 and gave the stock an outperform rating in a research report on Wednesday, May 1st. Eight Capital raised their price objective on Ivanhoe Mines from C$19.00 to C$30.00 in a research report on Monday, April 22nd. Jefferies Financial Group set a C$25.00 target price on shares of Ivanhoe Mines and gave the stock a buy rating in a report on Friday, May 3rd. Finally, Bank of America increased their price target on shares of Ivanhoe Mines from C$15.50 to C$21.00 in a research report on Tuesday, April 9th. Eight research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company has a consensus rating of Buy and an average target price of C$22.72.

Ivanhoe Mines Stock Up 2.5 %

Shares of TSE IVN opened at C$19.39 on Thursday. The stock has a 50 day moving average price of C$18.35 and a 200 day moving average price of C$15.03. The firm has a market capitalization of C$24.63 billion, a price-to-earnings ratio of 102.05 and a beta of 1.98. Ivanhoe Mines has a 52-week low of C$9.89 and a 52-week high of C$21.32. The company has a debt-to-equity ratio of 18.77, a quick ratio of 20.86 and a current ratio of 0.42.

Ivanhoe Mines (TSE:IVN) last announced its quarterly earnings results on Tuesday, April 30th. The company reported C($0.07) EPS for the quarter, missing the consensus estimate of C($0.01) by C($0.06). Sell-side analysts expect that Ivanhoe Mines will post 0.4653228 earnings per share for the current year.

Insider Transactions at Ivanhoe Mines

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